In January 2012, US$1 could be exchanged for Amazonian Peso (this is a fictitious country) at the rate of $1 = 20.00 pesos. In January 2020, the exchange rate had shifted to US$1 = 50.00 pesos. Answer the following questions:

i. Between 2012 and 2020, has the Amazonian peso appreciated or depreciated against the US dollar?

ii. Between 2012 and 2020, has the US $ appreciated or depreciated against the Amazonian peso?

iii. What was the value of 1 Amazonian peso in US$ in January 2012?

iv. What was the value of 1 Amazonian peso in US$ in January 2020?

v. Is this currency an example of a fixed or a floating exchange rate?