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Currency appreciation


The increase in the exchange rate of one currency in terms of other currencies. The term is usually applied to a currency with a floating rate of exchange; upward changes in fixed rates of exchange are called revaluations. For example, sterling appreciated from $3,50 to $5 during 1933 and from $1,70 in 1977 to $2,40 in 1980.

Reference: The Penguin Dictionary of Economics, 3rd edt.