question archive In December 1994 the government of Mexico officially changed the value of the Mexican peso from 3
In December 1994 the government of Mexico officially changed the value of the Mexican peso from 3
Subject:FinancePrice: Bought3
- In December 1994 the government of Mexico officially changed the value of the Mexican peso from 3.2 pesos per dollar to 5.5 pesos per dollar.
Required :
a. What was the percentage change in its value? Was this a depreciation, devaluation, appreciation, or revaluation? Explain.
b. Calculate the Percentage Change in Value Values of Peso - Initial exchange rate (peso/$) 3.20 New exchange rate (peso/$) 5.50
