Question

If the exchange rate for Mexican pesos has changed from 10 pesos to 9 pesos per dollar, _____. What is the value of the peso?

Answer 1

If the exchange rate for mexican pesos has changed from 10 pesos to 9 pesos per dollar, The value of the Peso has increased.

Previously, you need 10 pesos to get 1 dollar.
Now, you only need 9 pesos to get 1 dollar.

This means that the value of pesos toward dollars has increased

Answer 2

The answer is: The Mexican peso has appreciated in relation to the dollar, and now 9 Mexican pesos can be exchanged for $1

Step-by-step explanation:

Currency appreciation happens when one currency gains value related to a different currency.

In this case the Mexican peso went from 10 pesos per dollar to 9 pesos per dollar, that means that the Mexican peso appreciated by 10% [= (10 - 9) / 10] in relation to the American dollar.