The Venezuelan political and economic crisis deepened in late 2002
The Venezuelan political and economic crisis deepened in late 2002 and early 2003. On January 1st, 2003, the bolivar was trading at Bs1400/$. By February 1st, its value had fallen to Bs1950/$. Many currency analysts and forecasters were predicting that the bolivar would fall an additional 40% from its February 1st value by early summer 2003.
a. What was the percentage change in January?
b. Forecast value for June 2003?
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