1. Last week, the USD/ZAR exchange rate was 14.2125. This week, the exchange rat

Question

1. Last week, the USD/ZAR exchange rate was 14.2125. This week, the exchange rate is 14.5447. How much has the South African rand depreciated/appreciated against the U.S. dollar?

a. depreciated by 2.28%

b. appreciated by 2.28%

c. depreciated by 2.34%

d. appreciated by 2.34%

2. Last week, the USD/ZAR exchange rate was 14.2125. This week, the exchange rate is 14.5447. How much has the U.S. dollar depreciated/appreciated against the South African rand?

a. depreciated 2.28%

b. appreciated 2.28%

c. depreciated 2.34%

d. appreciated 2.34%

Explanation / Answer

1. Last week, the USD/ZAR exchange rate was 14.2125. This week, the exchange rat

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