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QUESTION 13 Suppose you observed a spot exchange rate of $1.0620/ in June. In July the spot rate is $1.0510/. By how much has the

QUESTION 13

Suppose you observed a spot exchange rate of $1.0620/ in June. In July the spot rate is $1.0510/. By how much has the dollar appreciated or depreciated relative to the euro?

	A.	appreciated by 1.0358%
	B.	depreciated by 1.0466%
	C.	depreciated by 1.0358%
	D.	None of the above
	E.	appreciated by 1.0466%

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