In July 2008, a British pound could buy $2. By October 2008, a pound could buy $1.55. Over the four months, the

Name: In July 2008, a British pound could buy $2. By October 2008, a pound could buy $1.55. Over the four months, the
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A currency depreciates when its value in terms of another currency decreases. In this case, the pound's value decreased from being able to buy $2 to being able to buy $1.55, so the pound depreciated against the dollar.

In July 2008, a British Pound Could Buy $2