Which one of the following is most likely to happen to South Africa's currency value (the Rand) as a result of a sudden and large-scale portfolio investment outflow, assuming it operates under a floating exchange rate system?
Appreciation
Depreciation
Devaluation
Revaluation
40 exam-style questions on Edexcel A A Level Economics 4.1.8 Exchange rates. Each one has a worked solution and a mark scheme showing where the marks go.