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On August 28, 2018, the exchange rate of U.S. dollar per Canadian dollar was 0.7650. It is now September 28, 2018. A U.S.-made Chevrolet Tahoe
On August 28, 2018, the exchange rate of U.S. dollar per Canadian dollar was 0.7650. It is now September 28, 2018. A U.S.-made Chevrolet Tahoe costs $65,000 over the entire period. Has the U.S. dollar appreciated or depreciated in value relative to the Canadian dollar? Is it cheaper or more costly for a Canadian citizen to buy the car (converting Canadian dollars into U.S. dollars) on September 28, 2018? What is the Canadian citizens C$ gain or loss on the purchase of the car if he waits to buy on September 28?
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