Did the movement in the exchange rate help or hurt

Reference no: EM131964373

Question: Currency exchange rates. On the day you arrive in England, the exchange rate for U.S. dollars and British pounds is $1:pound £0.51. You have $4,000, which you convert to pounds. While you remain in England for the next two weeks, the exchange rate falls to $1:£0.46. As you leave England, you convert the £136 you have left to dollars.

How much did you spend in England in U.S.? dollars?

Did the movement in the exchange rate help or hurt? you?

Reference no: EM131964373

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