Question
Erin McQueen purchased 50 shares of BMW, a German stock traded on the Frankfurt Exchange, for 64.5 euros () per share exactly 1 year ago
Erin McQueen purchased 50 shares of BMW, a German stock traded on the Frankfurt Exchange, for 64.5 euros () per share exactly 1 year ago when the exchange rate was 0.67 /US$. Today the stock is trading at 71.8 () per share, and the exchange rate is 0.75 /US$.
a. Did the depreciate or appreciate relative to the US$ during the past year? Explain.
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Climate Finance
Authors: Richard B. Stewart, Benedict Kingsbury, Bryce Rudyk
1st Edition
081474138X, 978-0814741382
