In 2002, the EUR/AUD exchange rate fell from 0.5764 to 0.5403. Calculate the percentage change in the Australian dollar against the euro.

Name: In 2002, the EUR/AUD exchange rate fell from 0.5764 to 0.5403. Calculate the percentage change in the Australian dollar against the euro.
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Question

Quizplus · Accepted Answer

The Australian dollar appreciated against the euro, so the percentage change is negative. The percentage change is calculated as (new rate - old rate) / old rate * 100 = (0.5403 - 0.5764) / 0.5764 * 100 = -6.26%.

In 2002, the EUR/AUD Exchange Rate Fell from 0