Asked by Kayla Sanders on Jul 08, 2024
Verified
If yesterday the dollar traded for 100 Japanese yen and today 101 yen for the dollar,we would say
A) that the dollar rose in value relative to the yen.
B) that the yen fell in value relative to the dollar.
C) both of the choices.
Japanese Yen
The official currency of Japan, symbolized as ¥ and known for its role in international trade and investment.
Dollar
The official currency of several countries, including the United States, often considered a benchmark and reserve currency worldwide.
- Comprehend the influence of currency valuation on global trade transactions.
Verified Answer
RM
Rawan MozayaJul 15, 2024
Final Answer :
C
Explanation :
Both statements are correct because if today you need more yen to buy the same dollar, it means the dollar has become more valuable relative to the yen, and conversely, the yen has become less valuable relative to the dollar.
Learning Objectives
- Comprehend the influence of currency valuation on global trade transactions.