Istanbul's Issuesurkish Devaluation. The Turkish lira $($TL$)$ was officially devalued by the Turkish government in February $2001$ during a severe political and economic crisis. The Turkish government announced on February $21$ that the lira would be devalued by $20\%.$ The spot exchange rate on February $20$ was $TL65,000=$$$1\mathrm{.}00.$

a$.$ What was the exchange rate after devaluation?

b$.$ What was percentage change after falling to $TL104,000=$$$1\mathrm{.}00?$

a$.$ What was the exchange rate after devaluation?

The exchange rate after devaluation was $TL($Round to the nearest Turkish lira.$)$