The following table provides you with exchange rates of different currencies on December 01, 2016 and December 01, 2018. December 01, 2016 C$1 = A$1.012824 C$1 = 85.741232 C$1 = CHF0.759078 December 01, 2018 A$1 = C$0.9725 1 = C$0.0117 CHF1 = C$1.3318 Did the Canadian dollar appreciate or depreciate relative to the

(a) Australian dollar (A$),

(b) Japanese yen (), or

(c) Swiss franc (CHF) over the two year period? Explain your answer.

AppendixLO1