The price of British Pounds “in US dollars” was 1.5355 last month and is 1.5247
ID: 2735910 • Letter: T
Question
The price of British Pounds “in US dollars” was 1.5355 last month and is 1.5247 today. Which of the following is TRUE given this information?
Turning 100 British Pounds into US dollars today would give you approximately one more dollar compared to the amount of US dollars you would have received last month
The British Pound has lost value against the US dollar
The value of the US dollar has not changed with respect to the British Pound
Today, $1000 US dollars would give you approximately 1,525 British Pounds
Today, 1000 British Pounds can be converted into approximately $153 US dollars
a.Turning 100 British Pounds into US dollars today would give you approximately one more dollar compared to the amount of US dollars you would have received last month
b.The British Pound has lost value against the US dollar
c.The value of the US dollar has not changed with respect to the British Pound
d.Today, $1000 US dollars would give you approximately 1,525 British Pounds
e.Today, 1000 British Pounds can be converted into approximately $153 US dollars
Explanation / Answer
Last month, $1.5355 could have bought 1 pound. Today $1.5267 can buy a pound. The pound, therefore, has become cheaper. In other words, it has lost value against the dollar.
b. The British Pound has lost value against the US dollar
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