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

Question

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?

depreciated by 2.28%

appreciated by 2.28%

depreciated by 2.34%

appreciated by 2.34%

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?

depreciated 2.28%

appreciated 2.28%

depreciated 2.34%

appreciated 2.34%

depreciated by 2.28%

appreciated by 2.28%

depreciated by 2.34%

appreciated by 2.34%

Explanation / Answer

1)

Exchange rate increased, so South African rand was depreciated.

= (14.5447-14.2125)÷14.2125

= 2.34%

2)

Exchange rate increased, so US $ was appreciated.

= (14.5447-14.2125)÷14.2125

= 2.34%

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