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During the American Civil War, the United States government left the gold standard and issued paper currency called Greenbacks. The gold price of greenback dollar fluctuated in response to “war news.” The following link contains daily data on the gold price of a greenback dollar. Calculate the percent change (appreciation or depreciation) in the gold price of a greenback. Graph the data for the Civil War period for both the exchange rate and the %change in the exchange rate (1862-May 1865). To see the impact of war news on exchange rates, look and see what happened to the gold price of a greenback following Civil War battles at Antietam (September 17, 1862) and Gettysburg (July 1-July 3, 1863). Provide an economic interpretation of the exchange rate movement.

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Financial Management, Finance

Category:- Financial Management
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