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What percent against the japanese yen over the last year

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Reference no: EM132752104

Problem 1: 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 100 Japanese yen, or 5 Argentine pesos at the foreign exchange booth. Last year, the Japanese yen was valued at $0.01, and the Argentine peso was valued at $0.19. Based on this information, the Argentine peso has changed by what percent against the Japanese yen over the last year?

Reference no: EM132752104

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