Economic-confusion on EOCs

CFA Level II
#1

Hi Guys,

I have a question related to Economic section- Currency exchange rates.

I took a pic for the Q from the CFAI with the answers.

In addition, I took a pic for my answer.

Could any one help me to explain the difference between my method of answering and CFAI method.

https://www.dropbox.com/sh/aiscxcwjdwtxjj3/EKMq1MVB8J

#2

The EUR didn’t appreciate 0.35% vs the USD; it _ depreciated _ 0.35% vs the USD. You added 0.35% when you should have _ subtracted _ 0.35%; your answer is too high by 0.70%.

#3

Ok, thanks a lot.

What the stupid mistake.

You made me laugh. smiley

#4

My pleasure.