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    Foreign Currency Exchange

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    When the Euro was first issued it hit the market at $1.17/€ on 1 Jan 2001.
    Today it is trading for $1.0625.

    a. What was the Euro price of the dollar when the Euro debuted?
    b. What has been the appreciation or depreciation of the EURO since it’s debut?
    c. What has been the average annualized appreciation or depreciation of the US
    dollar relative to the Euro since the Euro debuted?

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    Solution Summary

    The expert examines foreign currency exchange for the Euro.