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Peso Changes. In December 1994, the government of Mexico officially changed the value of the Mexican peso from 3.19 pesos per dollar to 5.48 pesos

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Peso Changes. In December 1994, the government of Mexico officially changed the value of the Mexican peso from 3.19 pesos per dollar to 5.48 pesos per dollar. What was the percentage change in its value? Was this a depreciation, devaluation, appreciation, or revaluation? Explain. What was the percentage change in its value? The percentage change in peso value is%. (Round to two decimal places.)

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