Question: Data: 8/1/2018: UAE Dirham (AED)=0.194066, US Dollar (USD)=0.712706 8/1/2019: UAE Dirham (AED)=0.198809, US Dollar (USD)=0.730125 Between these two dates, did this currency appreciate or depreciate

Data:

8/1/2018: UAE Dirham (AED)=0.194066, US Dollar (USD)=0.712706

8/1/2019: UAE Dirham (AED)=0.198809, US Dollar (USD)=0.730125

  1. Between these two dates, did this currency appreciate or depreciate relative to the U.S. dollar? Please write down the relevant exchange rates on both days, to support your answer.
  2. How did the multilateral effective USD exchange rate change between these dates? Use the trade weighted U.S. dollar index against major currencies. (Try searching Fed Table H.10 or within Fred).

The two currencies are the United Arab Emirates Dirham (AED) and the United States Dollar (USD), basically its comparing the two from the above data in bold.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!