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8. Many experts believe that the Chinese currency should not only be revalued against the U.S. dollar as it was in July 2005, but also

8.

Many experts believe that the Chinese currency should not only be revalued against the U.S. dollar as it was in July 2005, but also be revalued by another 20% or 30%.

What would be the new exchange rate value if the yuan was revalued an additional 20% from its initial post-revaluation rate of Yuan 8.28/$ to Yuan 8.11/$?

The 20% revalued exchange rate will be Yuan ___________/$. (Round to two decimal places).

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