If exchange rates increase in favor of the reference country, then this country is likely to have a higher value for its exports than its imports, in other words, the terms of trade of that country will have improved. This is why many countries try to control their exchange rates, instead of letting the market determine them: in order to aim for better terms of trade, and better macroeconomic results as a whole.
I am not certain, but i think it increased the tension of the British and the colonists, as the British handed the colonists the bill for the french and Indian war in the form of taxes. I hope this helps!
