If the spot exchange rate is $\le$1 = $1.50 when the market opens,and $\le$1 = $1.48 at the end of the day,the pound has appreciated,and the dollar has depreciated.

Question

Quizplus · Accepted Answer

The statement is incorrect. The pound has actually depreciated, and the dollar has appreciated. This is because the spot exchange rate has decreased from $1.50 to $1.48, meaning that it takes fewer dollars to buy one pound, indicating an increase in the value of the dollar and a decrease in the value of the pound.

If the Spot Exchange Rate Is ≤\le≤ 1 = $150 When the Market Opens,and

If the Spot Exchange Rate Is $\le$ 1 = $150 When the Market Opens,and