Question: Mexico was famous - or infamous - for many years in having two things every six years (cada seis aos in Spanish): a presidential election
Mexico was famous - or infamous - for many years in having two things every six years (cada seis aƱos in Spanish): a presidential election and a currency devaluation. This was the case in 1976, 1982, 1988, and in 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?
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AssumptionsRateValues Spot rate December 20 1994PsS1330 Spot rate December 2... View full answer
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