I need help for my ECON homework
Please post your answer by 11:59PM EDT Thursday July 17th and respond to at least one of your classmates' postings by 11:59PM EDT Saturday, July 19th.
The Federal Reserve System website, www.federalreserve.gov/releases/H10/hist, provides historical foreign-exchange rate data for a wide variety of currencies. Choose a country, and assume that you were there every New Year’s from January 1, 2003 until this year. You allowed yourself the same budget each year (choose an easy-to-work-with amount, such as 1000 yen, 100 Australian dollars, etc). Convert this amount to U.S. dollars using the posted exchange rate for each January since 2003. Has the dollar appreciated or depreciated against your chosen foreign currency? What was the least amount in dollars that your budget “cost”? The most? Please look at your classmates' posts to see which currencies they've chosen so that you're not all choosing the same ones- the Euro, Pound, Yen, and Australian dollar tend to be chosen by the first few people and I'd prefer that those who post later don't just choose the exact same currencies.
Note: When you look at the H.10 report, note that most currencies are reported in foreign currency per USD. However, there are a few that are reported in USD per foreign currency unit: the Australian dollar, the euro, the New Zealand dollar, and the British pound. Be careful!