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Please correct me if I am wrong here.
A Euro/Dollar Exchange Rate of 1 Euro=$2
If Euro has strengthened by 20% then
1 Euro= $2.40
We receive more $ / We pay more $If Euro has weakened by 20% then
1 Euro= $1.6
We receive less $ / We pay less $You are correct about the change in the exchange rate.
However with regard to receiving and paying, it depends what currency you are receiving/paying and what your own currency is.
If you are in the US receiving Euros, then if the exchange rate increases and you receive euros, then when converting to $’s you receive more dollars.
If you are in the US and needing to pay Euros, then it costs you more dollars.
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