Suppose that a new trade agreement between Australia and Canada causes the exchange rate to change from CAD 0.9 /AUD to AUD1.25/CAD. What has happened to the AUD relative to the CAD? It has depreciated. It remains the same value. It has been appreciated. There has been a revaluation. It has been devalued.

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The exchange rate changing from CAD 09AUD to AUD 125CAD ... View the full answer