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1. On 7 April 2021, the Malaysian Ringgit (RM) was trading at RM0.63 per Chinese yuan (CNY). If the ringgit is now trading at RM0.61

1. On 7 April 2021, the Malaysian Ringgit (RM) was trading at RM0.63 per Chinese yuan (CNY). If the ringgit is now trading at RM0.61 per CNY, what is the percentage change in the ringgits value? Is this an appreciation or depreciation?

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