The Japanese yen is a floating currency. If the exchange rate for the yen changes from $0.0098 to $0.01, the yen has appreciated.

Name: The Japanese yen is a floating currency. If the exchange rate for the yen changes from $0.0098 to $0.01, the yen has appreciated.
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Question

Quizplus · Accepted Answer

A currency appreciates when its value increases in relation to another currency. In this case, the yen has appreciated because it takes more dollars to purchase one yen at the new exchange rate of $0.01 compared to the old rate of $0.0098.

The Japanese Yen Is a Floating Currency