United States Dollar - Quote - Chart - Historical Data (2024)

FAQs

At what point was the US dollar worth the most? ›

Historically, the United States Dollar reached an all time high of 164.72 in February of 1985. United States Dollar - data, forecasts, historical chart - was last updated on June 27 of 2024.

The current value of U.S. Dollar Index is 104.818 USD — it has risen by 0.07% in the past 24 hours.

The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to a basket of foreign currencies. The USDX was established by the U.S. Federal Reserve in 1973 after the dissolution of the Bretton Woods Agreement.

What Currency Is Strongest Against the Dollar? If you're wondering what currencies are better than the U.S. dollar, the best answer would be the Kuwaiti dinar (KWD), the official currency of Kuwait, which is the strongest currency in the world.

We expect 2024 to be a year of diverging trends for the dollar. It will likely move lower on a broad trade-weighted basis early in the year but stabilize as the year progresses. Although we expect a general downward drift for the dollar, performance of individual currencies will likely vary widely.

At its start, the value of the U.S. Dollar Index was 100.000. It has since traded as high as 164.7200 in February 1985, and as low as 70.698 on March 16, 2008. The make up of the "basket" has been altered only once, when several European currencies were subsumed by the euro at the start of 1999.

Currency valuations fluctuate constantly, driven by the flow of funds between markets. The two biggest drivers are central bank policies (interest rates set by the U.S. Federal Reserve and its counterparts in Europe, England, Japan and elsewhere); and economic growth relative to inflation.

Prior to 1971, the US dollar was backed by gold. Today, the dollar is backed by 2 things: the government's ability to generate revenues (via debt or taxes), and its authority to compel economic participants to transact in dollars.

The Kuwaiti Dinar (KWD), recognized as the highest-valued currency globally, symbolizes Kuwait's economic strength.

1. Kuwaiti Dinar (KWD)- Highest Currency in the World. The highest currency in the world is none other than Kuwaiti Dinar or KWD.

Where is the American dollar worth the most in 2024? ›

Japan continues to be a popular choice, but Vietnam and South Korea stand as solid alternatives among numerous countries in Asia with favourable exchange rates for the US dollar. Closely following in value are South American countries: Argentina and Chile are among those offering the biggest luxury bang.

It hasn't been so consistently strong since the 1980s when the Fed was headed by Paul Volcker, the epitome of the hawkish central banker. In 1985, the dollar rose so much that U.S. officials became worried about the blow it was dealing to domestic manufacturers.

1. The 1794 Flowing Hair Silver Dollar. The 1794 Flowing Hair Silver Dollar may sit atop the rankings of the most expensive coin ever sold, at least for now. Some experts believe that it was the first silver dollar struck by the U.S.

Some causes of the strong dollar and the eventual misalignment that followed include inflation scares, high interest rates, and the increase in the size of the federal budget deficit.