Find out the percentage change from last year to this year

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Reference no: EM1350114

In a hypothetical world, between last year and this year, the CPI in the United States rose from 110 to 120 and the CPI in Russia rose from 100 to 110. The United States' currency unit, the Dollar, was worth $1.00 (per Canadian dollar) last year and is worth $0.80 (per Canadian dollar) this year. Russia's currency unit, the Ruble, was worth $23.38 (per Canadian dollar) last year and is worth $23.29 (per Canadian dollar) this year.

a) Find out the percentage change from last year to this year in the United States' nominal exchange rate with Russia

Reference no: EM1350114

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