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On January 1, 1975, the Mexican peso/U.S.$ exchange rate was Ps 12.5 = $1. By 1985, the exchange rate stood at Ps 208.9 = $1.

On January 1, 1975, the Mexican peso/U.S.$ exchange rate was Ps 12.5 = $1. By 1985, the exchange rate stood at Ps 208.9 = $1. By how much has the Mexican peso appreciated or depreciated against the dollar over this 10-year period?

13.02%

54.01%

24.54%

94.02%

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