Suppose you are in the market for a BMW and are considering going to Germany to purchase it,…
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Suppose you are in the market for a BMW and are considering going to Germany to purchase it, drive it around Europe for a couple of weeks, and then ship it home.
The car of your choice costs €90,000. When you first looked into the possibility of buying a car in Germany, the rate of exchange was €0.84 to $1; now the exchange rate is €0.88 to $1.
Required
Has the dollar appreciated or depreciated against the euro? Would this news about the exchange rate change please or displease you? Why?
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