Question: can you please do all work in steps on a paper if possible Exercises: The Foreign Exchange Market and Exchange Rate Determination EXERCISE 2 (Exchange
Exercises: The Foreign Exchange Market and Exchange Rate Determination EXERCISE 2 (Exchange rate determination) On August 8, 2000, Zimbabwe changed the value of the Zim dollar from Z$38/U.S.$ to Z$50/U.S.$. a) What was the old U.S. dollar value of the Zim dollar? What is the new U.S. dollar value of the Zim dollar? b) By what percent has the Zim dollar devalued (revalued) relative to the U.S. dollar? c) By what percent has the U.S. dollar appreciated (depreciated) relative to the Zim dollar
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