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Question
In 2005, exchange rates were 1.74 U.S. dollars per British pound, 112 Japanese yen per U.S. dollar, and 1.20 dollars per euro. In 2000, the exchange rates were 1.62 U.S. dollars per British pound, 102 Japanese yen per U.S. dollar, and 0.94 dollars per euro. For each currency, explain whether it appreciated or depreciated from 2000 to 2005 versus the other two currencies.Answer
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