If a currency has increased in value relative to another currency it is said to have:

Name: If a currency has increased in value relative to another currency it is said to have:
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When a currency increases in value relative to another currency, it is said to have appreciated. Depreciation refers to a decrease in value and devaluation refers to a deliberate decrease in the value of a currency by a government or central bank. "Realized" is not a relevant term in this context.

If a Currency Has Increased in Value Relative to Another