Suppose you start with buying a stock in (equivalent to $100) when the exchange rate is 1 = $1.5. One year later, the stock price changes to 75, and you sell it. At the time of the sale, the exchange rate is 1 = $1.6. What is your total percentage return? What percentage of your return is due to the exchange rate?

Total return = 20%; Exchange rate return = 6.67%.

Total return = 20%; Exchange rate return = 0.0%.

Total return = 20%; Exchange rate return = 7.50%.