On Monday the spot rate of exchange between the Mexican peso and the U.S. dollar is 12.650 (peso/dollar) On the following Tuesday the rate is 13.250. We can say that the U.S. dollar appreciated relative to the Mexican peso.

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The spot rate of exchange for the U.S. dollar increased from 12.650 (peso/dollar) on Monday to 13.250 on Tuesday. This means that the U.S. dollar is now worth more Mexican pesos than it was before, indicating that it has appreciated relative to the Mexican peso.

On Monday the Spot Rate of Exchange Between the Mexican