Which one of the following statements is correct given the following exchange ra
ID: 2743046 • Letter: W
Question
Which one of the following statements is correct given the following exchange rates?
US $ per foreign unit
Country FRI THU
South Africa 0.1028 0.1023
Thailand 0.0284 0.0286
A. On Thursday, one U.S. dollar was equal to 0.1023 South African rand.
B. On Friday, one Thai baht was equal to $35.21.
C. Both the South African rand and the Thai baht appreciated against the U.S. dollar from Thursday to Friday.
D. The South African rand appreciated from Thursday to Friday against the U.S. dollar.
E. The U.S. dollar depreciated from Thursday to Friday against the Thai baht.
Explanation / Answer
Only statement D is correct. This is because , on thursday one Rand = 0.1023 USD and on friday, One rand = 0.1028 USD , hence it will take more USD to buy a rand and hence rand must appreciate.
A is incorrect as 1 Rand = 0.1023 USD
B is incorrect as 1 USD = 35.21 Thai Baht
US dollar appreciated from Thursday to Friday against Thai Baht
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