The US Dollar Index strengthened by 0.53 points during February 2022.

The Russia-Ukraine conflict has driven up the value of the United States dollar (US$). This strengthening is reflected in the rise of the US Dollar Index (DXY) throughout February 2022.

According to Yahoo Finance data, the US Dollar Index traded up 0.88 points and closed at 97.07 on Thursday (24/2). This level is the highest since January 31, 2022.

From the beginning of the month, between February 1-24, 2022, the US dollar index has strengthened by 0.53 points (0.55%).

As Russia launched its invasion of Ukraine, investment portfolios in many countries experienced turmoil. Investors moved away from high-risk assets, causing global stock prices and currencies to plummet.

The Russian stock market index (MOEX) briefly plunged by as much as 50%. Similarly, the Russian ruble depreciated by up to 10% against the US dollar.

Increased uncertainty in Europe led fund managers to shift their portfolios from assets considered risky to those considered safe, one of which is the US dollar.

The US Dollar Index is an index of the US dollar's movement against six major world currencies.

These currencies are the euro, Japanese yen, British pound sterling, Canadian dollar, Swedish krona, and Swiss franc. The calculation of the US Dollar Index = 100 began in 1973.