Question
If the the current spot rate for Chinese Yuan (CNY) per Euro (EUR) is 6.9863, but it was 7.9443 on January 1, 2021, has
If the the current spot rate for Chinese Yuan (CNY) per Euro (EUR) is 6.9863, but it was 7.9443 on January 1, 2021, has the EUR appreciated or depreciated relative to the CNY over that time period? The exchange rate has remained the same. The EUR has depreciated as compared to the CNY. It is impossible to tell what has happened from the information above. The EUR has appreciated as compared to the CNY.
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