On January 1, 2021, Euro and USD exchange rate was 1.23 USD/EUR. Today, the Euro exchange rate is 0.83 EUR/USD. Can you tell if EUR has appreciated or depreciated relative to USD from January 1 to today? How much is the change in Euro currency value relative to USD? A.Euro has appreciated 32% relative to USD. B.Euro has depreciated 2% relative to USD. C.Euro has depreciated 32% relative to USD. D.Euro has appreciated 2% relative to USD.

Q: Crazy car price in Pounds is 576 and in Euros is 642. What is the exchange rate for Euro? a) 1.1146…

A: Solution: Price of Car in Pound = 576 Price of car in Euro = 642

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Q: 24) In 1999, the euro was trading at $0.84 per euro. If the euro is now trading at $0.99 per euro,…

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A:

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Q: Based on the table below, which currencies depreciated between January and March? Name of Currency…

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A:

Q: Given below are a set of foreign exchange quotes for several currencies against the Australian…

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Q: How much is the accounting gain/loss due to the exchange rate change?

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A: Current Price =$8000 Discount =$8000 * 10% Discount = $800

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A: In this we need to find out cross exchange rate between two currencies.

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Instruments of Foreign Exchange Market

Foreign exchange is a worldwide market in which one nation’s currency is converted into another nation’s currency. In further terms, exchanging of nations currency with foreign currencies. Foreign exchange happens at a specified rate which is termed the foreign exchange rate. The exchange rates are not constant continuously changing as they are derived by market forces of supply and demand. Widely used foreign currencies are the United States- dollar, Euro, Japanese Yen, British pound, and Australian dollar. US- dollar is the most denominated foreign currency. The Euro to US dollar is a widely used currency pair in the forex market as these two currencies represent the world’s enormous economy. Forex trade is simple as exchanging currencies at the bank. The main players of forex markets are the central banks, financial institutions, intermediaries, investments banks, and other banks. Central Bank is the supreme player who decides the currency value of their own nation on the forex market. Mostly foreign exchange-traded at FX market (forex market) when tourists’ visits a foreign country, import, and export happens between two countries.