The Federal Reserve maintains a website that lists the exchange rates between the U.S. dollar and many other currencies. Go to www.newyorkfed.org/markets/

foreignex.html. Go to the historical data from 1999 and later and find the euro.

a. What has been the percentage change in the euro–

dollar exchange rate between the euro’s introduction and now?

b. What has been the annual percentage change in the euro–dollar exchange rate for each year since the euro’s introduction?