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Calculate percentage change in value values of peso

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Reference no: EM133070201

-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:

-What was the percentage change in its value? Was this a depreciation, devaluation, appreciation, or revaluation? Explain.

-Calculate the Percentage Change in Value Values of Peso - Initial exchange rate (peso/$) 3.20 New exchange rate (peso/$) 5.50

Reference no: EM133070201

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