Assume that last year the Australian dollar was trading at $. 5527, the Mexican peso at $. 1102, and the United Kingdom ( British) pound was worth $ 1.4233. By this year the U. S. dollar value of an Australian dollar was $. 7056, the Mexican peso was $. 0867, and the British pound was $ 1.8203. Calculate the percentage appreciation or depreciation of each of these three currencies between last year and this year.
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Explanation & Answer
Australian dollar depreciated =21.67%
Mexican peso appreciated = 27.105 %
British pound depreciated =21.81%