Asked by Charles Gratela on May 18, 2024
Verified
If the dollar was initially valued at 20 rubles and its value rises to 23 rubles,then the value of a ruble (in terms of dollars)has ____________.
Rubles
The official currency of Russia, symbolized as RUB, used for all financial transactions within the country.
Depreciation
A fall in the price of a nation’s currency relative to foreign currencies.
- Learn about the structure and ramifications of exchange rates among currencies.
- Evaluate how the appreciation and depreciation of currency influence the trade dynamics of imports and exports.
Verified Answer
IC
Learning Objectives
- Learn about the structure and ramifications of exchange rates among currencies.
- Evaluate how the appreciation and depreciation of currency influence the trade dynamics of imports and exports.