Exchange Rate Flashcards
1
Q
What does WPIDEC stand for?
A
WPIDEC: Weak Pound = Imports Dear & Exports cheap
2
Q
What does SPICED stand for?
A
SPICED: Strong Pound = Imports Cheap & Exports Dear
3
Q
What does a fall in the exchange rate mean?
A
It means that the currency is worth less compared to other countries
