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The USD/MXN exchange rate began 2023 at 19.50. The current rate is 18.00. This means...

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Finance

The USD/MXN exchange rate began 2023 at 19.50. The current rate is 18.00. This means that

a) The MXN has appreciated versus the USD

b) The USD has appreciated versus the MXN

c) More information is needed

d) None of the above

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