If the C$ strengthens by 3% relative to the euro (C$1.00 = €0.7448), what will be the new value for the euro per C$1.00?

Name: If the C$ strengthens by 3% relative to the euro (C$1.00 = €0.7448), what will be the new value for the euro per C$1.00?
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Quizplus · Accepted Answer

If the C$ strengthens by 3% relative to the euro, it means that the euro will weaken by the same percentage against the C$. The new value can be calculated as €0.7448 + (3% of €0.7448) = €0.7448 + €0.0223 = €0.7671 per C$1.00.

If the C$ Strengthens by 3% Relative to the Euro