1. Lectures in Macroeconomics- Charles W. Upton Exchange Rates $ ₤ €

2. Exchange Rates 2 $ € ¥£

3. 3 $ € ¥£ $CDN

4. Exchange Rates 4 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50

5. Exchange Rates 5 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 Perhaps not exactly, for there are usually transactions charges.

6. Exchange Rates 6 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 1€= $2.00 You can exchange $2 for one Euro. You can exchange one Euro for $2.

7. Exchange Rates 7 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 1€= $2.00 You can exchange $2 for one Euro. You can exchange one Euro for $2. The Dollar has depreciated.

8. Exchange Rates 8 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 1€= $2.00 You can exchange $2 for one Euro. You can exchange one Euro for $2. The Dollar has depreciated. The Euro has appreciated.

9. Exchange Rates 9 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 1€= $2.00 You can exchange $2 for one Euro. You can exchange one Euro for $2. The Dollar has depreciated. The Euro has appreciated. But what determines exchange rates anyway?

10. Exchange Rates 10 Exchange Rates 1€= $1.50 You can exchange $1.50 for one Euro. You can exchange one Euro for $1.50 1€= $2.00 You can exchange $2 for one Euro. You can exchange one Euro for $2. The Dollar has depreciated. The Euro has appreciated. But what determines exchange rates anyway? Supply and Demand

11. Exchange Rates 11 Our Agenda Show how exchange rates are determined.

12. Exchange Rates 12 Our Agenda Show how exchange rates are determined. Some history

13. Exchange Rates 13 Our Agenda Show how exchange rates are determined. Some history A review of international monetary systems.

14. Exchange Rates 14 Our Agenda Show how exchange rates are determined. Some history A review of international monetary systems. Issues in monetary systems. –The Euro –Currency Boards –Managed Float

15. Exchange Rates 15 End ©2005 Charles W. Upton. All rights reserved