2.Given the following currency exchange rates:

Time period 1: C$0.95/S$

Time period 2: C$0.75/S$

a.From time period 1 to time period 2, C$ has depreciated relative to S$.

A)True

B)False

b.Calculate the % change of the value of C$ from time period 1 to time period 2. You need to show the calculation in order to receive full credit.

c.From time period 1 to time period 2, S$ has appreciated relative to C$.

A)True

B)False

d.Calculate the % change of the value of S$ from time period 1 to time period 2.

You need to show the calculation in order to receive full credit.