Q&A - Exchange Rates
Monday, June 08, 2009
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The value of the pound has been making headlines over the last week as political turmoil continues to take its toll. This interesting article looks at the highs and lows of sterling against the euro.
The OCR case study paper provides exchange rate data, so this topic will be key for revision.
Questions
1. Explain what is meant by the term exchange rate. (3)
2. With the aid of a demand and supply diagram explain how the value of the pound is determined. (3)
3. State 2 factors which might cause the value of the pound to strengthen. (2)
4. The pound is said to be weak against the euro at present. Explain what this means. You may want to find out the current exchange rate - the following link will help. (4)
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