Question
In one month Sri Lanka's floating-rate currency, the rupee (Rs), goes from 147 Rs/$ to 160 Rs/$, while the Japanese yen goes from 106 /$
In one month Sri Lanka's floating-rate currency, the rupee (Rs), goes from 147 Rs/$ to
160 Rs/$, while the Japanese yen goes from 106 /$ to 100 /$.
(a) There has been a devaluation of the rupee against the dollar and the yen.
(b) The rupee has depreciated by 13.3% against the yen.
(c) The rupee has depreciated by 15.4% against the yen.
(d) The yen has been depreciated against the rupee and the dollar.
Which is the correct answer?
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
