A Canadian traveling to the United States converts $100 Canadian into 95 U.S. dollars. One month later he does the same thing and receives 105 U.S. dollars. There are no transactions costs. The Canadian- U.S. exchange rate has and the Canadian dollar has relative to the U.S. dollar.

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The Answer of A Canadian traveling to the United States converts $100 Canadian into 95 U.S. dollars. One month later he does the same thing and receives 105 U.S. dollars. There are no transactions costs. The Canadian- U.S. exchange rate has and the Canadian dollar has relative to the U.S. dollar.

A Canadian Traveling to the United States Converts $100 Canadian