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 in early 2016, the euro and the dollar were nearly equivalent. This change in value is called

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Sara Tyler

2 February, 00:13

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 in early 2016, the euro and the dollar were nearly equivalent. This change in value is called

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Sophie Villarreal · Answer 1

currency fluctuation

Explanation:

In foreign exchange, currency fluctuation refers to the changes in value of a currency. Normally free floating currencies (whose value is determined by the market) will appreciate or depreciate against other currencies. When a currency appreciates, it gains value against other currency, for example in 2008 1 euro was worth $1.60. When a currency depreciates, it loses value against other currencies, e. g. in 2016 the euro was worth around $1.