iven the following exchange rates, calculate the percentage change in the USD value relative to the Chinese yuan (CNY) in 2020. January 1, 2020: 7.05 CNY/USD December 31, 2020: 0.1608 USD/CNY Pick the closest answer from the choices below. A. USD depreciated 11.8% relative to Chinese yuan in 2020. B. USD appreciated 13.4% relative to Chinese yuan in 2020. C. USD depreciated 13.4% relative to Chinese yuan in 2020. D. USD appreciated 11.8% relative to Chinese yuan in 2020.
iven the following exchange rates, calculate the percentage change in the USD value relative to the Chinese yuan (CNY) in 2020. January 1, 2020: 7.05 CNY/USD December 31, 2020: 0.1608 USD/CNY Pick the closest answer from the choices below. A. USD depreciated 11.8% relative to Chinese yuan in 2020. B. USD appreciated 13.4% relative to Chinese yuan in 2020. C. USD depreciated 13.4% relative to Chinese yuan in 2020. D. USD appreciated 11.8% relative to Chinese yuan in 2020.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Given the following exchange rates, calculate the percentage change in the USD value relative to the Chinese yuan (CNY) in 2020.
January 1, 2020: 7.05 CNY/USD
December 31, 2020: 0.1608 USD/CNY
Pick the closest answer from the choices below.
A. |
USD |
|
B. |
USD appreciated 13.4% relative to Chinese yuan in 2020. |
|
C. |
USD depreciated 13.4% relative to Chinese yuan in 2020. |
|
D. |
USD appreciated 11.8% relative to Chinese yuan in 2020. |
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education