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Sagot :
Answer:
Approximate price of marble statue in USD is:
= Price of statue * Foreign Currency Cost of one unit
= 1,700 * 0.9213
= US$1,566.21
If the nominal exchange rate for the U.S. dollar–euro rises from $1.3457 to $1.547555 per euro, the euro appreciated in value, or appreciated, relative to the U.S. dollar.
If this direct rate increases from $1.3457 to $1.547555 per euro, it means that one Euro can now buy more dollars than before which means that it gained/ appreciated in value relative to the USD.
For instance: Before the change, €10 = 10 * 1.3457 = $10.3457
After the change, €10 = 10 * 1.547555 = 10.547555
Euro therefore became stronger relative to the USD.
The approximate U.S. dollar price of the statue would be $1565.21.
If the nominal exchange rate for the U.S. dollar-euro rises from $1.3457 to $1.547555 per euro, the euro appreciated in value or appreciated, relative to the U.S. dollar.
The approximate price of marble statue in USD will be:
= Price of statue × Foreign currency cost
= 1700 × 0.9213
= $1566.21
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