Use the following information to answer the next three questions. Currency 2015 2016 2017 Yen (¥)...
Use the following information to answer the next three questions.
|
Currency |
2015 |
2016 |
2017 |
|
Yen (¥) |
£.002/¥ |
¥550/£ |
¥575/£ |
|
Euros (€) |
€1.04/£ |
£.95/€ |
€1.25/£ |
|
US dollars |
$1.20/£ |
$1.25/£ |
£.64/$ |
Find the percentage appreciation/depreciation of the pound from the US point of view from 2015-2016.
Homework Answers
% change in pound = (rate in 2016-rate in 2015)/rate in 2015
= (1.25-1.20)/1.20
= 4.17%
I.e. appreciation of pound by 4.17%
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