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9. The graph below shows the value of the USD/ARS exchange rate from end-2018 until end-2019. ARS/USD, end-2018 to present; Inverted vertical scale; source: www.investing.com/currencies

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9. The graph below shows the value of the USD/ARS exchange rate from end-2018 until end-2019. ARS/USD, end-2018 to present; Inverted vertical scale; source: www.investing.com/currencies 35 37.65 40 45 8-Aug-19, 45.17 50 55 60 59.87 14-Aug-19, 60.24 65 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 a. What event explains the drop in the Argentine peso's value in mid-August 2019? b. By how much did the value of the Argentine peso change between 8-Aug. and 14-Aug.? A -33.4% B -25.0% +25.0% D +33.4% C. What was the total change in the peso's value in 2019? A -59.0% B__-37.1% C +37.1% D_+59.0%

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