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a) In October 2022, Mr. Steve travels to Malaysia and exchanges $200 at the rate of RM4.60/USD1. Based on the information given, answer the
a) In October 2022, Mr. Steve travels to Malaysia and exchanges $200 at the rate of RM4.60/USD1. Based on the information given, answer the following questions. i. In November 2022, the exchange rate of USD/MYR appreciated to RM4.50, explain what happened to the currency and why? ii. Calculate how many Ringgit he gets in October and November. (3 Marks) (4 Marks) iii. In November 2022, If the rent for a hotel room is RM350 per night and Mr.Steve would like to stay for 3 nights, calculate how much he has to pay in USD. (4 Marks) b) Discuss how the depreciation of currency can improve the balance of payment (BOP) of a country. (10 Marks)
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a i In November 2022 the exchange rate of USDMYR appreciated to RM450 which means that the US dollar has become stronger compared to the Malaysian Ringgit The appreciation of the US dollar against the ...Get Instant Access to Expert-Tailored Solutions
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