Nigerian naira Floated. On Friday June 17, 2016, the Central Bank of Nigeria (CBN) abandoned the Nigerian naira's (NGN) fixed exchange rate and allowed the currency to float. Previously fixed against the U.S. dollar at NGN

195.99=1.00

USD, the naira closed at NGN

276.76/USD

on Monday June 20, the first day of trading following the float. The naira quickly floated (sunk) to NGN

321.19/USD

by August 18. Similarly, the naira fell from NGN

222.6984=1.00

EUR to NGN

317.1933/EUR

on June 20, and NGN

346.7309/EUR

on August 18.

a. What was the percentage change in the value of the Nigerian naira versus the dollar the first trading day?

b. What was the percentage change in the value of the naira versus the dollar by August 18, 2016?

c. What was the percentage change in the value of the Nigerian naira verus the euro the first trading day?

d. What was the percentage change in the value of the naira versus the euro by August 18, 2016?