Exchange Rates Flashcards
(3 cards)
1
Q
What are exchange rates
A
These are the value of one currency in terms of another
2
Q
What are the 2 ways the pound can change
A
Appreciation
Depreciation
3
Q
Whats appreciation
A
This is when the exchange rate increases.
Uk exports become more expensive abroad, which is bad for uk exporters because their products
