In January 2002, the Argentine peso was officially valued at a rate of Peso 1.40/USD. More recently the exchange rate is Peso 3.10/USD, thus, the Argentine peso ________ against the U.S. dollar.

Question

Quizplus · Accepted Answer

The Argentine peso has weakened against the U.S. dollar. This is because it now takes more pesos to equal one U.S. dollar than it did in January 2002 when the exchange rate was 1.40 pesos per USD.

In January 2002, the Argentine Peso Was Officially Valued at a Rate