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Did the dirham strengthen or weaken from may

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Reference no: EM132812313

You are an Emirati businessman and you travel to a foreign country on May 1.  When you arrive, you exchange 2,000 AED for 10,000 units of the foreign currency (FX). When you leave on May 15, you have 1,000 units of the foreign currency left which you exchange for 150 AED.

REQUIRED:

Question 1: What were the exchange rates between AED and the foreign currency (FX) on May 1?

Question 2: What were the exchange rates between AED and the foreign currency on May 15?

Question 3: Did the dirham strengthen or weaken from May 1 to May 15 relative to the other currency?

Reference no: EM132812313

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