A year ago the vanadian currency the plumbum vap had a, Financial Management

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A year ago the vanadian currency the plumbum vap had a

A year ago the Vanadian currency, the plumbum (VAP), had a mid-rate of VAP 6.5 to the dollar. Today it is VAP 8.7 per dollar.

a) Has the VAP appreciated or depreciated against the dollar? By what percentage?

b) Has the dollar appreciated or depreciated against the VAP? By what percentage?

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Financial Management: A year ago the vanadian currency the plumbum vap had a

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Financial Management: A year ago the vanadian currency the plumbum vap had a

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