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By what percent against the Japanese yen over the last year

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Problem - Movement in Cross Exchange Rates Assume that cross exchange rates are always proper, such that triangular arbitrage is not feasible. While at the Miami airport today, you notice that a U.S. dollar can be exchanged for 125 Japanese yen or 4 Argentine pesos at the foreign exchange booth. Last year, the Japanese yen was valued at $.01, and the Argentine peso was valued at $.30. Based on this information, the Argentine peso has changed by what percent against the Japanese yen over the last year?

Reference no: EM132907924

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