Economics (AS & A Level) · Feb / March 2023 · Paper 12 · Question 17

The graphs show the changes in the exchange rates of the pound sterling (£) against the US dollar (US$) and the euro (€) between the years 2001 and 2003. What happened to the value of the £ between the years 2001 and 2003?

1. AThe £ appreciated against the US$ and depreciated against the €.
2. BThe £ appreciated against the US$ and the €.
3. CThe £ depreciated against the US$ and appreciated against the €.
4. DThe £ depreciated against the US$ and the €.

As printed in the paper