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Colombia is the world's biggest producer of roses. The global demand for roses increases and at the same time, the central bank in Colombia increases

Colombia is the world's biggest producer of roses. The global demand for roses increases and at the

same time, the central bank in Colombia increases the interest rate. In the foreign exchange market

for Colombian pesos, what happens to?

a. The demand for pesos?

b. The supply of pesos?

c. The exchange rate of the peso against the U.S. dollar?

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