The following table provides you with exchange rates of different currencies on December 01, 2016 and December 01, 2018. December 01, 2016 C$1 = US$0.751058 C$1 = 0.704408 C$1 = 0.596098 December 01, 2018 US$1 = C$1.3296 1 = C$1.5052 1 = C$1.6956 Did the Canadian dollar appreciate or depreciate relative to the

(a) US dollar (US$),

(b) euro (), or

(c) British pound () over the two year period? Explain your answer.

AppendixLO1