What is the correct sequence of actions that Songland's Central Bank should take to appreciate its currency in the foreign exchange market?

To appreciate its currency, Songland's Central Bank should first raise interest rates. Higher interest rates attract foreign investors looking for better returns on their investments, which increases demand for Songland's currency. Next, the bank can sell foreign currency reserves to buy its own currency, further boosting its value. Additionally, the bank might implement policies that promote economic stability, making the currency more attractive. For example, if investors see that Songland has a strong economy, they are more likely to invest there, leading to an appreciation of its currency.