Yesterday, the exchange rate for the U.S dollar and the euro was 1 euro for every $1.10. Today, it is 1 euro for every $1.20. Which currency is appreciating?

Name: Yesterday, the exchange rate for the U.S dollar and the euro was 1 euro for every $1.10. Today, it is 1 euro for every $1.20. Which currency is appreciating?
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Question

Quizplus · Accepted Answer

The euro is appreciating because it now takes more U.S. dollars to buy a single euro, indicating an increase in the euro's value relative to the dollar.

Yesterday, the Exchange Rate for the U