A line chart shows the U.S. dollar’s evolving value over time. The x-axis represents years, with labels ranging from 1992 to 2024 in four-year increments. The y-axis represents the dollar’s value against an equity market capitalization-weighted basket of five developed-market currencies, with labels ranging from 60 to 120. The dollar’s value starts in June 1991 at 97.9 and finishes in June 2025 at 103.86, which is considered to be in fair-value range. During the intervening years, the value peaks at 119.89 in January 2002 and bottoms out at 73.55 in April 2011.