In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but i

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Nadya [2.5K]

2 years ago

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In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but i

n late 2017, the euro was once again slightly less than $1. This change in value is called

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1 answer:

Kisachek [45] · Answer 1 · 2023-06-21T10:37:27+03:00

The answer is foreign currency fluctuations.

Foreign currency fluctuations are basically the change in the values of currencies based on the demand of that currency.

In other words, the more the number of investors invests in the stocks regulated by the stock market to buy exports of any country, the more will be the value of the currency of that particular country and vice versa.

Foreign currency fluctuation occurs for all floating currencies all over the world.

Since in the given case, the value of the euro changes from US$1 to US$1.60 from 2002 to 2008 respectively.

Hence, this change in value is called Foreign currency fluctuations.

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