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什么是美元指数? What is the US Dollar Index?

   人气:     日期: 2005/2/15



    美元指数是综合反映美元在国际外汇市场的汇率情况的指标,用来衡量美元对一揽子货币的汇率变化程度。它通过计算美元和对选定的一揽子货币的综合的变化率,来衡量美元的强弱程度,从而间接反映美国的出口竞争能力和进口成本的变动情况。如果美元指数下跌,说明美元对其他的主要货币贬值。(持股?离场?换股?上班族面对大底如何操作?)
 

    美元指数期货的计算原则是以全球各主要国家与美国之间的贸易结算量为基础,以加权的方式计算出美元的整体强弱程度,以100为强弱分界线。在1999年1月1日欧元推出后,这个期货合约的标的物进行了调整,从十个国家减少为六个国家,欧元也一跃成为了最重要的、权重最大的货币,其所占权重达到了57.6%,因此,欧元的波动对于美元指数的强弱影响最大。

    币别指数权重(%)(主力资金异动,同步跟踪我的财富…)

    欧元57.6

    日元13.6

    英镑11.9

    加拿大元9.1

    瑞典克朗4.2

    瑞士法郎3.6

    美元指数USDX是参照1973年3月六种货币对美元汇率变化的几何平均加权值来计算的。以100.00为基准来衡量其价值。105.50的报价是指从1973年3月以来,其价值上升了5.50%。

    1973年3月被选作参照点是因为当时是外汇市场转折的历史性时刻。从那时主要的贸易国容许本国货币自由地与另一国货币进行浮动报价。该协定是在华盛顿的史密斯索尼安学院(SmithsonianInstitution)达成的,象征着自由贸易理论家的胜利。史密斯索尼安协议(Smithsonianagreement)代替了大约25年前的在新汉普郡(NewHampshire)布雷顿森林(BrettonWoods)达成的并不成功的固定汇率体制。

    当前的USDX水准反映了美元相对于1973年基准点的平均值。到现在目前为止,美元指数曾高涨到过165个点,也低至过80点以下。该变化特性被广泛地在数量和变化率上同期货股票指数作比较。

Currency Weight
Euro EUR 0.576
Japanese Yen JPY 0.136
British Pound GBP 0.119
Canadian Dollar CAD 0.091
Swedish Krona SEK 0.042
Swiss France CHF 0.036

What is the US Dollar Index®?

Just as the Dow Jones Industrial Average provides a general indication of the value of the US stock market, the US Dollar Index (USDX®) provides a general indication of the international value of the US Dollar. Similar in many respects to the Federals Reserve Board's trade-weighted index, the USDX does this by averaging the exchange rates between the US Dollar and six major world currencies.


USDX = 50.14348112 × EURUSD-0.576 × USDJPY0.136 × GBPUSD-0.119 × USDCAD0.091 × USDSEK0.042 × USDCHF0.036

These 17 countries (12 countries of the Euro zone plus the five other nations whose currencies are represented in the USDX) constitute the bulk of international trade with the United States, and have well-developed foreign exchange markets with rates freely determined by market participants. In addition, many currencies not included in the USDX move in close correlation with those that are included. The USDX is computed 24 hours a day, seven days a week.

Currencies and weights used in the calculation of the USDX are the same as those used in the Federal Reserve Boards trade-weighted US Dollar Index.

Since the USDX is based only on indications of foreign exchange rate values, it may occasionally differ from a value calculated using other data sources.

The USDX is calculated as a geometric weighted average of the change in six foreign currency exchange rates against the US Dollar relative to March 1973. The USDX measures the dollar's general value relative to a base of 100.00. A quote of 105.50 means the dollar's value has risen 5.50% since this base period.

March 1973 was chosen as a base period because it represents a significant milestone in foreign exchange history when the world's major trading nations allowed their currencies to float freely against each other. This agreement was reached at the Smithsonian Institution in Washington, DC and was a victory for free market theorists. The Smithsonian agreement replaced the unsuccessful fixed rate regime established approximately 25 years earlier at Bretton Woods, New Hampshire.

The current level of the USDX reflects the average value of the dollar relative to this 1973 base period. Since that time, the Dollar Index has traded as high as the mid-160's and as low as the high-70's. Volatility of this instrument is comparable in range and variability to a broad-based, multi-capitalization stock index future.

Based on materials from New York Board of Trade





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