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1777 Period Fundamental Model: Spot Rate Model: Predicted Value of Predicted Value of Bulgarian lev Bulgarian lev US$0.52 US$0.50 $0.54 $0.50 $0.44 $0.60 $0.56 $0.50

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1777 Period Fundamental Model: Spot Rate Model: Predicted Value of Predicted Value of Bulgarian lev Bulgarian lev US$0.52 US$0.50 $0.54 $0.50 $0.44 $0.60 $0.56 $0.50 Actual value of Bulgarian lev US$0.50 $0.60 $0.50 $0.50 Using the mean % absolute forecast error, determine which model is better at forecasting the value of the Bulgarian lev

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