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3. The Bolivar political and economic crisis deepened in late 2005 and early 2006. On January 1st, 2006, the boliviano was trading at B7,1/$. By

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3. The Bolivar political and economic crisis deepened in late 2005 and early 2006. On January 1st, 2006, the boliviano was trading at B7,1/$. By February 1st, its value had fallen to B8,3/$. Many currency analysts and forecasters were predicting that the boliviano would fall an additional 35% from its February 1st value by early summer 2006. a. What was the percentage change in January? b. Forecast value for June 2006

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