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1) The Venezuelan government officially floated the Venezuelan bolivar (Bs) in February of 2002. Within weeks, its value had moved from the pre-float fix of

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1) The Venezuelan government officially floated the Venezuelan bolivar (Bs) in February of 2002. Within weeks, its value had moved from the pre-float fix of BS778/S to Bs1025/\$. a. Has the bolivar appreciate or depreciate? ( 1 mark) b. By what percentage did its value change? ( 1 mark)

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