If the dollar/pound exchange rate goes from $2/pound to $3/per pound then both the dollar and the pound have depreciated.

Name: If the dollar/pound exchange rate goes from $2/pound to $3/per pound then both the dollar and the pound have depreciated.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

When the dollar/pound exchange rate increases from $2/pound to $3/pound, it means that more dollars are needed to buy a single pound, indicating that the dollar has depreciated relative to the pound, while the pound has appreciated relative to the dollar.

If the Dollar/pound Exchange Rate Goes from $2/pound to $3/per