If the dollar price of one South African rand (ZAR) increases from $0.076 in 1999 to $0.083 in 2003, we can say that the reciprocal exchange rate moved from:
a. $1 = ZAR 13.2 in 1999 to $1 = ZAR 12.0 in 2003.
b. $1 = ZAR 12.0 in 1999 to $1 = ZAR 13.2 in 2003.
c. $1 = ZAR 0.076 in 1999 to $1 = ZAR 0.083 in 2003.
d. ZAR 1 = $0.083 in 1999 to ZAR 1 = $0.076 in 2003.
e. $1 = ZAR 176 in 1999 to $1 = ZAR 183 in 2003.
a
Economics
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