3. (Currency appreciation/depreciation) Based on real-time news report (2016/06/24), the British pound (GBP) crashed to its lowest level (as low as $1.32/f) in 31 years as the country voted to leave the European Union in a historic referendum. The exchange rate on 2016/06/23 was $1.4883/. (a) By what percent (90) has the GBP appreciated or depreciated against the dollar during this period? period? (b) By what percent (90) has the dollar USD) appreciated or depreciated against the GBP during this (c) If the dollar experienced an appreciation of 15% from 2016/06/23 to the end of 2016, what would the exchange rate (S/E) be at the end of 2016? (d) Critical thinking From mid-June 2016 to mid-December 2016, if the GBP fell 25% against the US dollar. By how much (%) did USD appreciate against the GBP over the 6-month period? (Hint: You may assume that the exchange rate was SA/f in mid-June and the exchange rate would be SB/f in mid-December. Part (d) can be solved without knowing the exchange rates.) 2015 24 hours 1 woek 1 month1 year |5 years |All time Chart Type: Line Chart Bar Cha