A Canadian dollar cost $0.84 in U.S. dollars and later costs $0.86. The U.S. dollar has depreciated relative to the Canadian dollar.

Question

Quizplus · Accepted Answer

When the value of the Canadian dollar increases from $0.84 to $0.86 in terms of U.S. dollars, it means you need more U.S. dollars to buy the same amount of Canadian dollars, indicating the U.S. dollar has depreciated relative to the Canadian dollar.

A Canadian Dollar Cost $0