On the following graph, use the grey point (star symbol) to show the new exchange rate resulting from higher copper prices. The market for foreign exchange 10 New Exchange Rate Action Ceiling EXCHANGE RATE D 20 40 Hop QUANTITY (Milions of pesos) According to the graph, which of the following correctly describes the effect of the increase in the supply of pesos on the market for foreign e in Chile? The Chilean peso depreciates, and the exchange rate falls to the floor value. The Chilean peso appreciates, and the exchange rate rises above the ceiling value. The Chilean peso appreciates, and the exchange rate rises to the ceiling value. The Chilean peso depreciates, and the exchange rate falls below the floor value. On the previous graph, use the purple line (diamond symbol) to show how the stabilization fund managers have to adjust the value of the Chile