At the end of 2006 an expert economist from the Global Economic Institute in Kiel, Germany, predicted

Question:

At the end of 2006 an expert economist from the Global Economic Institute in Kiel, Germany, predicted a drop in the value of the dollar against the euro of 10% over the next 5 years. If the was $1.27 to 1 euro on November 5, 2006, and was $1.45 to 1 euro on November 5, 2007, what was the actual drop in the value of the dollar over the first year?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...