Suppose the exchange rate of Australian dollar was 80 Japanese yen per Australian dollar on Thursday, and on Friday the exchange rate was 90 Japanese yen per Australian dollar. Which of the following BEST explains what has happened between Thursday and Friday?
A) The Australian dollar appreciated against the Japanese yen.
B) The Japanese yen appreciated against the Australian dollar.
C) The Japanese yen depreciated against the Australian dollar.
D) Both answers A and C are correct.
Correct Answer:
Verified
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