6. Pricing foreign goods The nominal exchange rate is the price of one currency in terms of another currency. A nominal exchange rate specifies how many units of one country's currency are needed to buy one unit of another country's currency. Suppose the following table presents nominal exchange rate data for November 3, 2019, in terms of U.S. dollars per unit of foreign currency. Use t information in the table to answer the questions that follow. Cost of One Unit of Foreign Currency Foreign Currency (Dollars) Brazilian real (BRL) 0.3329 Canadian dollar (CAD) 0.7176 Euro (EUR) 1.129 Japanese yen (JPY) 0.008398 Mexican peso (MXN) 0.0934 United Kingdom pound (GBP) 1.603Suppose that on November 3, 2019, an antique woven tapestry handmade in Canada is priced at CAD 4,190. The approximate U.S. dollar price of the tapestry would be 'V . If the nominal exchange rate for the U.S. dollarCanadian dollar falls from $0.7176 to $0.46644 per Canadian dollar, the Canadian dollar 'I' in value, or V , relative to the U.S. dollar