Suppose the Exchange Rate of the U

question 322

Multiple Choice

Suppose the exchange rate of the U.S. dollar was 1.00 euro = $0.50 on Thursday, and on Friday the exchange rate was $1.00 = 2.10 euros. Which of the following best explains what has happened between Thursday and Friday?

• A) The U.S. dollar appreciated against the euro.
• B) The euro appreciated against the U.S. dollar.
• C) The U.S. dollar depreciated against the euro.
• D) Both answers B and C are correct.

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