Peso Changes. In Decomber $1994,$ the govemment of Mexico officially changod the value of the Mexican peso from $3\mathrm{.}15$ pesos per dollar to $5\mathrm{.}52$ pesos per dollar. What wais the percentage chango in ils value?

Was this a dopreciation, dovaluation, oppreclation, or rovaluation? Explain

What was the percentage change in its value?

The percentage change in peso value is $\%.($Round to two dacimal plocos.$)$

Was this a depreciation. devaluation, appreciation, or rovaluation? Explain. $($Solect all the choloes that apply.$)q,$ A$.$ Anytime a govemment sets or resets the value of its currency, it is a managed or fixed exchange rato. If that is the case, any change in its official value must be eithar an "approciation" or "devaluation. $-$ In this case, an appreciation.

B$.$ Anytime a government sets or resels the value of tis currency, it is a managed of fixed exchang rate. If that is the case, any change in its officlal value must be either a "revaluation" or "devaluation." In this case, a devaluation.

C$.$ Anytime a govemment sets or resets the value of its currency, it is a managed or fixed exchan rate. If that is the case, any change in its official value must be either a "revaluation"