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Compute the percentage devaluation for given case

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Reference no: EM131676918

Question: Cada Seis Años. Mexico was famous-or infamous- for many years for having two things every six years (cada seis años in Spanish): a presidential election and a currency devaluation. This was the case in 1976, 1982, 1988, and 1994. In its last devaluation on December 20, 1994, the value of the Mexican peso (Ps) was officially changed from Ps3.30/$ to Ps5.50/$. What was the percentage devaluation?

Reference no: EM131676918

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