On Wednesday, the exchange rate between the euro and the U.S. dollar was $1.20 per euro. On Thursday, it was $ 1.18. Did the dollar appreciate or depreciate against the euro? By how much?
2006-08-24 16:04:04 · 5 answers · asked by L.J. 1 in Social Science ➔ Economics
The dollar increased in value against the euro. Therefore it appreciated (by 1.6949%). If the value of the dollar against the euro goes down it requires fewer dollars to buy a Euro, If the value goes up it requires more dollars to purchase euros.
2006-08-24 16:13:50 · answer #1 · answered by h2odog 3 · 0⤊ 0⤋
The Dollar has been weak now for some time. The Euro and many other currencies have gained strength against the Dollar. But, the Dollar is a very prominent driving force in the world currency market. Over the course of a day, the Dollar can Fluctuate against the Euro from 0-40 cents or more. Actually I am watching it now rise against the Dollar, I bought the Euro @ 1.2755 and it is now @ 1.2778. It has risen 23 points and I am leveraging $100,000 with $500 which gives me $10 a point for a profit of $230 right now, hoping it keeping going up and the Dollar get weaker. But, tomorrow it may go the other way, then I will "Sell" the Euro and make money on it getting weak against the Dollar.
So, one hour ago 1 Euro would buy $1.2755 Dollars, now, 1 Euro will buy $1.2778 dollars, so, the Dollar is Depreciating.
Oh! I not sure it ever went 40 cents, maybe 18 cents tops in a day.
2006-08-24 23:18:42 · answer #2 · answered by Snaglefritz 7 · 0⤊ 0⤋
Last I hear the dollar was 2 to 1 in favor of the Euro
2006-08-28 20:17:46 · answer #3 · answered by bjh 2 · 0⤊ 0⤋
The US dollar? As of 8:00 on Thursday night, Pacific time, it's $1.28 to buy one Euro. I don't think you are looking at an accurate website. However, if it's a site that you can buy Euros from, please, give me the name so that I can use it as I am traveling to Europe next month.
For your question - anytime it takes less dollars to buy a foreign currency, the dollar has either appreciated or the foreign currency has depreciated. You want to pay the minimum amount of dollars to get one of another currency.
2006-08-24 23:11:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The Dollar appreciated by 1.667%
The market quotes the price of a Euro in Dollars. If a Euro (or any other commodity) drops in price, than the thing it is traded for in rises in price.
The Japanese Yen is the other way around. It is quoted in Yen. Thus, if the Yen goes from 120 to 118, the Dollar depreicated by 1.667%.
2006-08-24 23:16:04 · answer #5 · answered by szydkids 5 · 0⤊ 0⤋