Answer to Question #266459 in Macroeconomics for Kenan

Question

The U.S. dollar exchange rate increased from ​$0.96 Canadian in June 2011 to ​$1.03 Canadian in June 2012​, and it decreased from 81 Japanese yen in June 2011 to 78 Japanese yen in June 2012.

What was the value of the Canadian dollar in terms of U.S. dollars in June 2011 and June 2012​?

Answer 1

Solution:

The value of Canadian dollar in terms of U.S. dollars in June 2011 = 1.04

 

The value of Canadian dollar in terms of U.S. dollars in June 2012 = 0.97