Based on the data in Table 1, did the dollar depreciate or appreciate against the pound, the Canadian dollar, the franc, the yen, and the mark between 1970 and 1980? Between 1980 and 1990? Between 1990 and 2000? Between 2000 and 2011?

Table 1 Exchange Rates Since 1970

 

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Value on January 1 Each Year 1970 1980 1990 2000 2011 U.S. dollar/U.K. pound 2.40 2.22 1.61 1.62 1.43 Canadian dollar/U.S. dollar 1.07 1.17 1.16 1.44 1.05 French franc/U.S. dollar 5.55 4.02 5.77 6.51 Japanese yen/U.S. dollar 358 240 144 102 93 German mark/U.S. dollar 3.69 1.73 1.69 1.94 | U.S. dollar/European euro 1.33 1.01 - Note: Each exchange rate shows the number of units of the first currency that are needed to obtain one unit of the second currency. For example, the 1970 value for the U.S. dollar/U.K. pound exchange rate of 2.40 means that 240 dollars could be traded for 1 pound. The exchange rates are written here as they are quoted most commonly in markets for foreign exchange, that is, in terms of U.S. dollars per 1 U.K. pound in the first row and units of another currency per 1 U.S. dollar in the other rows. The French franc and German mark ceased to exist in 2002, so there is no value for their exchange rates for 2011; the euro came into existence in 1999, so there is no value for it in 1970, 1980, and 1990. Value on January 1 Each Year 1970 1980 1990 2000 2011 U.S. dollar/U.K. pound 2.40 2.22 1.61 1.62 1.43 Canadian dollar/U.S. dollar 1.07 1.17 1.16 1.44 1.05 French franc/U.S. dollar 5.55 4.02 5.77 6.51 Japanese yen/U.S. dollar 358 240 144 102 93 German mark/U.S. dollar 3.69 1.73 1.69 1.94 | U.S. dollar/European euro 1.33 1.01 - Note: Each exchange rate shows the number of units of the first currency that are needed to obtain one unit of the second currency. For example, the 1970 value for the U.S. dollar/U.K. pound exchange rate of 2.40 means that 240 dollars could be traded for 1 pound. The exchange rates are written here as they are quoted most commonly in markets for foreign exchange, that is, in terms of U.S. dollars per 1 U.K. pound in the first row and units of another currency per 1 U.S. dollar in the other rows. The French franc and German mark ceased to exist in 2002, so there is no value for their exchange rates for 2011; the euro came into existence in 1999, so there is no value for it in 1970, 1980, and 1990.

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1 US Dollar appreciate against UK pound 2US dollar depreciate against Canadian dollar 3US do... View the full answer