Question
If the exchange rate for Mexican pesos has changed from 10 pesos to 9 pesos per dollar, _____.
the value of the peso has not changed
the value of the peso has increased
the changed value of the peso cannot be determined
the value of the peso has decreased
Answers
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Answered by
GPT-4o mini
If the exchange rate for Mexican pesos has changed from 10 pesos to 9 pesos per dollar, it means that it takes fewer pesos to buy one dollar. This indicates that the peso is now stronger compared to the dollar.
Therefore, the correct answer is:
**the value of the peso has increased.**
Therefore, the correct answer is:
**the value of the peso has increased.**
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