The peseta had a very strong showing against the Yen during this two year period. The peseta started appreciating in value from the very beginning of this period and just kept getting stronger and stronger the entire time. The peseta strengthened against the Yen during every quarter except for the second quarter of 2001. In conclusion, the peseta faired basically the same against both currencies. During the two year period as a whole, the peseta strengthened against both currencies. Also, both currencies had a period in the first part of 2001 where the peseta depreciated against them. The only difference between the currencies is that for the year 2001 the peseta was slightly devalued against t...
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...g the July exchange rate of 167.54 ESP/USD) that is a savings of $820,998.
As you can see it is crucial for companies and consumers to be sure to keep a close eye on exchange rates. Changes in the exchange rate affects all areas of business. A stronger currency makes importers happy, because it costs less for them to bring the goods into the country. Meanwhile, it makes exporters sad, because it costs more for foreign companies to purchase their products, which leads to decreased demand. A currency that is depreciating has the exact opposite affect. Foreign direct investors would like to see a weak currency so that they can purchase capital in their new country at lower prices. Finally, tourists would also like to see a weaker currency, because it allows them to visit a country at less expensive price, because they are able to buy more local currency.
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