The current Venezuelan political and economic crisis deepened in late 2015. On September 30th, 2015, Venezuela’s currency the Bolivar was trading at S(Bolivar/Dollar) = 800; one month earlier it was S(Bolivar/Dollar) = 684. Many currency forecasters were predicting that the Bolivar would fall an additional 70% from its September 30th value by the end of 2015. Required : What was the percentage change in the value of the Bolivar relative to the US dollar during September 2015?

The current Venezuelan political and economic crisis deepened in late 2015. On September 30th, 2015, Venezuela’s currency the Bolivar was trading at S(Bolivar/Dollar) = 800; one month earlier it was S(Bolivar/Dollar) = 684. Many currency forecasters were predicting that the Bolivar would fall an additional 70% from its September 30th value by the end of 2015. Required : What was the percentage change in the value of the Bolivar relative to the US dollar during September 2015?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter22: International Financial Management

Section: Chapter Questions

Problem 6P

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