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If the exchange rate changes from $1.70 = 1 to $1.68 = 1, what does this mean for the dollar?

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If the exchange rate changes from $1.70 = £1 to $1.68 = £1, what does this mean for the dollar? For the pound? What if the exchange rate changes from $1.70 = £1 to $1.72 = £1?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...

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International economics

International economics

ISBN: 978-8131518823

13th Edition

Authors: Robert J. Carbaugh

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Question Posted: November 14, 2012 03:36:33
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