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4. The Venezuelan political and economic crisis deepened in late 2002 and early 2003. On January 1,2003 , the bolivar was trading at Bs 1400/$.

image text in transcribed 4. The Venezuelan political and economic crisis deepened in late 2002 and early 2003. On January 1,2003 , the bolivar was trading at Bs 1400/$. By February 1, its value had fallen to Bs 1950/$. Many currency analysts and forecasters were predicting that the bolivar would fall an additional 40\% from its February 1 value by early summer 2003 (June). (20 points) a. What is the percentage change in January? b. Calculate the forecast value for June 2003

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