Suppose the exchange rate between INR and EUR changes from 1 EUR = 80 INR to 1 EUR = 85 INR. What can be said about the change in the value of the…
CA Foundation · Business Economics · PYQS · September 2024
Suppose the exchange rate between INR and EUR changes from 1 EUR = 80 INR to 1 EUR = 85 INR. What can be said about the change in the value of the INR relative terms to the EUR?
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. INR has depreciated against the EUR.
Topics: International Trade
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