On August 8, 2000, Zimbabwe changed the value of the Zim dollar from Z$38/US$ to Z$50/US$. By what percent has the Zim dollar devalued or revalued relative to the U.S. $ ?

Select one:

a. depreciated by 24%

b. appreciated by 31.5%

c. appreciated by 24%

d. depreciated by 31.5%