if the exchange rate changed from 1 08 euros to 1 07 euros t

if the exchange rate changed from $1= 0.8 euros to $1= 0.7 euros, then the euro depreciated in relationship to the US dollar

true or false

Solution

False

$1 is 0.8 Euro that means Euro is 20% more valuable than dollar

$1 is 0.7 Euro that means Euro is 30% more value than dollar

It means Euro has appretiated.