Assume that cross exchange rates are always proper such that triangular arbitrage is not feasible. While at

Question:

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 125 Japanese yen, or 4 Argentine pesos at the foreign exchange booth. Last year, the Japanese yen was valued at $0.01, and the Argentine peso was valued at $.30. Based on this information, the Argentine peso has changed by what percent against the Japanese yen over the last year?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question
Question Posted: