Explain whether the value of usd increased

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1USD was worth CN$0.97 and CN$0.93 on January 1st and 21st, respectively. To a US based company that uses USD as base currency, using direct quote, what is the percentage of increase/decrease of the value of USD. You need to explain whether the value of USD increased or decreased compared with that of CN$, and by how many percent.

Reference no: EM131010923

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