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1. (i) Suppose the U.S. dollar per currency exchange rate of the euro was on Thursday 1.2201 and on Friday 1.2168. (a) Did the euro

1. (i) Suppose the U.S. dollar per currency exchange rate of the euro was on Thursday 1.2201 and on Friday 1.2168.

(a) Did the euro appreciate or depreciate relative to the U.S. dollar? Briefly explain.

(b) How much was the appreciation/depreciation (in terms of percentage change)?

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