Assume the Foreign Exchange Rate for the Euro Was A$1

question 9

Multiple Choice

Assume the foreign exchange rate for the euro was A$1.00 = .70 euro last month. This month, the exchange rate is A$1.00 = .72 euro. This information indicates that over the past month the

• A) euro appreciated relative to the dollar.
• B) euro depreciated relative to the dollar.
• C) Australian dollar appreciated relative to all foreign currencies.
• D) Australian dollar remained unchanged relative to the euro.

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