Exchange Rates I: The Monetary Approach in the Long Run uppose that two countries, Vietnam and Côte d'Ivoire, produce coffee. The currency unit used in Vietnam is the dong (VN Côte d'Ivoire is a member of Communauté Financière Africaine (CFA), a currency union of West African countries that us CFA franc. In Vietnam, coffee sells for 4,500 dong (VND) per pound. The exchange rate is 30 VND per 1 CFA franc, <-30, 1. According to the law of one price (LOOP), what is the price of coffee in Côte d'Ivoire?

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