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Today: $1 = ¥90 Yesterday $1 = ¥75 What is the percentage yen appreciation/depreciation against the...

Today: $1 = ¥90 Yesterday $1 = ¥75 What is the percentage yen appreciation/depreciation against the dollar? Select one: a. 14.33 appreciation b. 16.54% depreciation c. 15.12% appreciation d. 16.54% appreciation e. 15.12% depreciation

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Answer #1

Computation of the percentage yen appreciation/deprciation against the doller.We have,

Yesterday rate

$ 1 = Yen 75

1 Yen =1/75 = $ 0.0133

Today rate

$ 1 = Yen 90

1 Yen = 1/90 = $ 0.0111

Currency depreciation is the loss of value of one currency(Yen) with respect to the other currency(Doller). In this question, yen is depreciate relative to the Doller.

The % yen depreciation against the doller = ( Yesterday Yen rate - Today Yen rate) / Today yen rate

The % yen depreciation against the doller = ( 0.0133 - 0.0111) / 0.0133 = 0.1654*100 = 16.54 %

Answer: (b) 16.54 % depreciation

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