1.Pound/dollarcurrencypairsvalue changedfrom14.18/$ to 15.43/$. a.Is this an appreciation or depreciationfor dollar? Why?b.By what percentage did currency pairsvalue change?(15pts) 2.OrhanYasarspeculates on the currencies in the foreign currency exchange market. Currently the spot price for the Polish zlotyis Zl439.47/$ and the 4-month forward rate is Zl441.44/$. Orhan expectsthe Polish zlotywill move to Zl441.54/$ in the next fourmonths.