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Istanburs issues. The Turkisk fira (TL) was officially devalued by the Turkish govemment in Febeuary 2001 during a severe political and econonic crisks. The Turkish

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Istanburs issues. The Turkisk fira (TL) was officially devalued by the Turkish govemment in Febeuary 2001 during a severe political and econonic crisks. The Turkish government announced on February 21 st that the lira would be devalued by 20%. The spot exchange rate on February 20 th was Th 69.000/5 a. What was the exchange rate after devaluation? b. What was the percentage change after falling to TL.95,000/5 on February 2.4, thee days after the devaluation? a. What was the exchange tate after devaluation? The exchange rate after devaluatioe was TL E6250 (Round to the nearest Turkishi lira ) b. What was the percentage change after fateng to 7.95.000/5 on February 24 , three days ather the devaliation? The percentage chango from the initial value atter faling to TL.95, 000/5 is 27.37%. (Round to two decimal places A negative change must be entered with a negative sign) The percentage change from the "devalued" value atter falling to TL.95,000/5 is K. (Round tolvivo decimal places A negative change must be ensered with a neggative sign)

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