Exports of PNG gold to US raised the value of kina against the US dollar from $0.30 to $0.40. What is the economic term used to refer to this change?

Answer 1

The increase in the value of the Papua New Guinea (PNG) kina against the US dollar from $0.30 to $0.40 is referred to as "appreciation." In economic terms, when a currency strengthens or increases in value relative to another currency, it appreciates. In this case, the increase in exports of PNG gold to the US likely contributed to the demand for kina, leading to its appreciation against the US dollar.