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Doing Business in the Spanish Economy Essay

Assignment id 1003613
Discipline Biology
Assignment type Essay
Words 3399
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The Spanish Peseta had some good times and some bad times when compared with the US Dollar and the Japanese Yen during September 2000 until August 2002. Considering this two year period as a whole, the Spanish Peseta appreciated in value against both the dollar and the yen. This is where the similarities stop however. First off, we'll examine how the peseta fared from the buck. As I mentioned, looking at the beginning and ending rates, it is possible to realize that the peseta strengthened against the dollar; however, it was hardly a continuous appreciation. From September 2000 until the end of the year that the peseta strengthened against the dollar, but the beginning of 2001 marked the beginning of a period of depreciation to the peseta. This depreciation lasted for the first half of this year. Each month in this time, the currency was devalued at about 3.5 pesetas per dollar. The third quarter of 2001 stabilized the peseta once again and started it back on its course of admiration, which continued until August of 2002. (Antweiler) The peseta had a very strong showing against the Yen during this two year period. The peseta started appreciating in value from the very beginning of this period and just kept getting stronger and stronger the whole time. The peseta strengthened against the Yen during every quarter but for the second quarter of 2001. In summary, the peseta faired basically the same against both currencies. During the two year period as a whole, the peseta strengthened against both currencies. Also, both currencies had a period in the first part of 2001 where the peseta depreciated against them. The one difference between the currencies is that for the calendar year 2001 the peseta was slightly devalued against t.. .

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