The finance office of a UK theatre records that £1 buys €1.19 in June and €1.16 in July.
Which conclusion can be drawn from these records?
A purchase priced in euros cost fewer pounds in July than in June.
The UK government lowered the pound's exchange rate.
The pound appreciated against the euro.
The pound depreciated against the euro.
53 exam-style questions on OCR GCSE Economics 4.3 Exchange rates, covering 4.3.1 Draw how exchange rates are determined, 4.3.2 Analyse how exchange rates are determined, 4.3.3 Calculate currency conversion, 4.3.4 Analyse exchange rate data, and 4.3.5 Effect of exchange rate changes. Each one has a worked solution and a mark scheme showing where the marks go.