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 depreciating?

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 depreciating?
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Question

Quizplus · Accepted Answer

The U.S. dollar is depreciating because it now takes more dollars (from $1.10 to $1.20) to buy one euro, indicating a decrease in the dollar's value relative to the euro.

Yesterday, the Exchange Rate for the U