The euro was introduced as a physical currency in January 2002 at an exchange rate of $1.16/€. Today, relative to that beginning value, the euro has depreciated against the United States dollar.

Question

Quizplus · Accepted Answer

The statement is incorrect. The euro has actually appreciated against the United States dollar since its introduction in 2002. As of August 2021, the exchange rate is approximately $1.18/€, which means the euro has appreciated by about 2.6% relative to its beginning value.

The Euro Was Introduced as a Physical Currency in January