Visit the website of the Bank of Canada at www.bankofcanada.ca. Click on Rates and Statistics and then

Question:

Visit the website of the Bank of Canada at www.bankofcanada.ca. Click on “Rates and Statistics” and then “Exchange Rates.”

a. What is the Canadian-dollar effective exchange rate index (CERI)?

b. How many foreign countries are included in the index?

c. What are the weights of the included countries? Which country has the highest weight? Which has the lowest?

d. Go to the CANSIM data available in the Student Resources section of your MyEconLab website and download series V41589522 (this is a daily series for the Canadian-dollar effective exchange rate index). Did the Canadian dollar appreciate or depreciate in 2011?

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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