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Imagine two currencies: X and Y. If it takes more units of X to buy Y 90 days forward: a. then X will have depreciated
Imagine two currencies: X and Y. If it takes more units of X to buy Y 90 days forward: a. then X will have depreciated over the 90 day period b. then Y would be devalued over the 90 day period X c. then X would be devalued over the 90 day period d. then Y would have appreciated over the 90 day period e. No option is correct
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
16th edition
978-1259277160
