A currency depreciates if it buys less of a foreign currency than it did before. The US dollar depreciated against what currency(a) from month 1 to month 2? Explain using the chart

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter19: International Finance And The Foreign Exchange Market
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A currency depreciates if it buys less of a foreign currency than it did before. The US dollar depreciated against what currency(a) from month 1 to month 2? Explain using the chart 

US Dollar
British Pound
Chinese Yuan
Japanese Yen
Euro
US Dollar
British Pound
Chinese Yuan
Japanese Yen
Euro
$1 =
.76
6.37
113.04
.89
US Dollar
$1 =
.70
6.20
116.24
.92
1 £ =
1.32
8.46
149.55
1.17
British Pound
1 £ =
1.40
Exchange Rate Table for Month 2
8.72
146.89
1.11
1 Y =
.16
.12
V
17.75
.14
10pt
Chinese Yuan
1 Y =
.20
.11
16.32
.15
V
1 \ =
.0088
.0067
.056
:E V
.0078
Japanese Yen
1 \ =
.0080
0065
.062
A currency appreciates (or gets stronger) if it buys more of a foreign currency than it did before. The US dollar appreciated against
which currency(s) from month 1 to month 2? Explain using numbers from the chart above.
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
BIUS Paragraph
Arial
.0078
1€
1.13
.85
7.21
127.55
A V
Euro
1€
1.17
.89
7.59
117.2
T
000
Transcribed Image Text:US Dollar British Pound Chinese Yuan Japanese Yen Euro US Dollar British Pound Chinese Yuan Japanese Yen Euro $1 = .76 6.37 113.04 .89 US Dollar $1 = .70 6.20 116.24 .92 1 £ = 1.32 8.46 149.55 1.17 British Pound 1 £ = 1.40 Exchange Rate Table for Month 2 8.72 146.89 1.11 1 Y = .16 .12 V 17.75 .14 10pt Chinese Yuan 1 Y = .20 .11 16.32 .15 V 1 \ = .0088 .0067 .056 :E V .0078 Japanese Yen 1 \ = .0080 0065 .062 A currency appreciates (or gets stronger) if it buys more of a foreign currency than it did before. The US dollar appreciated against which currency(s) from month 1 to month 2? Explain using numbers from the chart above. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial .0078 1€ 1.13 .85 7.21 127.55 A V Euro 1€ 1.17 .89 7.59 117.2 T 000
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