The figure below shows the U.S.dollar-Canadian dollar nominal exchange rate from January 1971 to March 2008.

-From January 1971 to January 1987,the Canadian dollar _________ by approximately __________.

Question

The figure below shows the U.S.dollar-Canadian dollar nominal exchange rate from January 1971 to March 2008.
 
-From January 1971 to January 1987,the Canadian dollar _________ by approximately __________.

Quizplus · Accepted Answer

From the figure, we can see that the exchange rate went from around 0.92 in January 1971 to around 1.28 in January 1987. This represents a depreciation of the Canadian dollar by approximately 28% (calculations: (1.28-0.92)/1.28 * 100% ≈ 28%). Therefore, the correct answer is choice B, "depreciated;30%".

The Figure Below Shows the U