DXY$Y: An Overview
DXY$Y is a financial term used to describe the performance of the U.S. dollar against a basket of foreign currencies. The DXY$Y index is calculated by taking the weighted average of the exchange rates of the U.S. dollar against the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The index is used to measure the strength of the U.S. dollar relative to other currencies and is often used as a benchmark for international investments.
History of DXY$Y
The DXY$Y index was first developed in 1973 by the Federal Reserve Bank of New York. The index was created to provide a more accurate measure of the U.S. dollar’s performance against foreign currencies than the traditional U.S. dollar index, which only measured the performance of the U.S. dollar against the euro and Japanese yen. Since its inception, the DXY$Y index has become a widely used benchmark for international investments.
Comparison Table
| Currency | Weight |
|---|---|
| Euro | 57.6% |
| Japanese Yen | 13.6% |
| British Pound | 11.9% |
| Canadian Dollar | 9.1% |
| Swedish Krona | 4.2% |
| Swiss Franc | 3.6% |
Summary
The DXY$Y index is a financial term used to measure the performance of the U.S. dollar against a basket of foreign currencies. The index was first developed in 1973 by the Federal Reserve Bank of New York and has since become a widely used benchmark for international investments. For more information about the DXY$Y index, you can visit the Federal Reserve Bank of New York’s website or the websites of other financial institutions.
See Also
- U.S. Dollar Index
- Euro
- Japanese Yen
- British Pound
- Canadian Dollar
- Swedish Krona
- Swiss Franc
- Currency Exchange Rate
- Foreign Exchange Market
- Currency Trading
