00:01
The canadian exchange rate is the number of canadian dollars needed to purchase one unit of some foreign currencies.
00:05
So they give us a table showing the canadian dollar compared to different currencies.
00:12
They want us to know which currencies are asking which currencies appreciated relative to the canadian dollar from 2017 to 2018.
00:24
So we want to look at the canadian dollar in 2017 and see which one of these units of currency actually appreciated.
00:36
Not whether the canadian dollar appreciated, but whether the currency they're trading to appreciated.
00:42
So in other words, this first one, we're going from $1 .31 in 2017 to $1 .25 in 2018.
00:54
And we're looking at the u .s.
00:55
Dollar.
00:56
So we want to know, did the u .s.
00:58
Dollar increase in value or decrease in value relative to the canadian dollar? and the way we tell that is if it takes fewer dollars to make a canadian dollar, then the u .s.
01:13
Dollar has appreciated.
01:14
So in other words, that means that the canadian dollar is worth less, so the u .s.
01:19
Dollar is worth more.
01:20
So we can look and see which one of these decreased in value...