You are given two different exchange rates per pair of currencies. Determine whether the currency in question has appreciated or depreciated. Mark the correct column. Hint: You are given a mixture of direct and indirect quotes so I would re-write the rates so that the currency under consideration is on the denominator;

You are planning a trip to Europe and Japan and want to change AUD into euros and yen. Your bank provides the following quotes: Euros ($1.194 - $1.245) and Yen ($.009245 - $.00967).
How much would you lose if you converted $100 into euros and then back into dollars and $100 into yen and then back into dollars.

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Dates 4/24/2003 4/28/2003 4/25/2002 4/26/2003 1/30/2000 9/20/2000 12/27/2002 12/28/2002 Exchange Rate 0.91130 EUR = 1 USD 0.90630 EUR = 1 USD 1.6430 CHF = 1 USD 0.6140 USD = 1 CHF 2.3442 CAD = 1 GBP 2.0927 CAD = 1 GBP 1.776 AUD = 1 USD 1.7831 AUD = 1 USD Currency to Consider EUR CHF GBP USD Appreciated Depreciated Dates 4/24/2003 4/28/2003 4/25/2002 4/26/2003 1/30/2000 9/20/2000 12/27/2002 12/28/2002 Exchange Rate 0.91130 EUR = 1 USD 0.90630 EUR = 1 USD 1.6430 CHF = 1 USD 0.6140 USD = 1 CHF 2.3442 CAD = 1 GBP 2.0927 CAD = 1 GBP 1.776 AUD = 1 USD 1.7831 AUD = 1 USD Currency to Consider EUR CHF GBP USD Appreciated Depreciated

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To determine whether a currency has appreciated or depreciated we need to compare the exchange rate ... View the full answer