The French euro devalued by 17% against the U.S.dollar.This is equivalent to a revaluation of the dollar against the euro by

Question

Quizplus · Accepted Answer

When a currency devalues by a certain percentage, the reciprocal currency appreciates by a different percentage. The formula to calculate the appreciation is 1 / (1 - devaluation rate) - 1. In this case, it's 1 / (1 - 0.17) - 1 = 1 / 0.83 - 1 ≈ 0.2048 or 20.48%.

The French Euro Devalued by 17% Against the U