When the value of the Mexican peso declines relative to another currency, the exchange rate for the Peso has
A) revalued.
B) appreciated.
C) depreciated.
D) deposited.

Question

Quizplus · Accepted Answer

When the value of a currency declines relative to another currency, it is said to have depreciated. This means that it can be exchanged for a smaller amount of the other currency.

When the Value of the Mexican Peso Declines Relative to Another