The country of Ethandan witnesses a major economic growth in its current financial year as a result of a major breakthrough by the nation's scientists in the field of nanotechnology. The economic growth leads to an increase in the value of the nation's currency relative to that of other nations'. In the context of the foreign exchange market, the increase in the value of Ethandan's currency is referred to as _____.

Question

Quizplus · Accepted Answer

Appreciation refers to the increase in value of one currency relative to others in the foreign exchange market, which matches the scenario described for Ethandan's currency.

The Country of Ethandan Witnesses a Major Economic Growth in Its