Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 34, Problem 3QP
To determine

The depreciation of U.S. dollar and appreciation of Mexican peso.

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What does it mean to say that the U.S. dollar has depreciated in value in relation to the Mexican peso? What does it mean to say that the Mexican peso has appreciated in value relative to the U.S. dollar?
In mid-2006, a British pound sterling (the monetary unit in the United Kingdom) was worth 1.4 euros (the monetary unit in the European Union). If a U.S. dollar bought 0.55 pound sterling in 2006, what was the exchange rate between the U.S. dollar and the euro?
The Dominican peso started the year at 55 pesos / $1, but then fell to 50 pesos / $1 over the summer. Was the Dominican peso stronger or weaker against the US dollar? Did the US dollar appreciate or depreciate against the Dominican peso?
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