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please solve it in 20 mins I will thumb you up Roster Question 19 FRED-Venezuelan Bolivares to U.S. Dollar Spot Exchange Rate Venezuelan Bolivares to
please solve it in 20 mins I will thumb you up
Roster Question 19 FRED-Venezuelan Bolivares to U.S. Dollar Spot Exchange Rate Venezuelan Bolivares to One U.S. Dollar 5,000,000 4,000,000 Venezuelan Bolivares to One U.S. Dollar 3,000,000 2,000,000 1,000,000 0 -1,000,000 Apr 2020 Jul 2020 FRED-Venezuelan Bolivares to US Dollar Spot Exchange Rate 4.8 Jan 2020 Dec 2021 jan 2022 Oct 2020 Jan 2021 Feb 2022 Apr 2021 Jul 2021 Mar 2022 Oct 2021 Apr 2022 Jan 2022 Apr 2022 May 2022 Venezuela uses the bolivar (B) as its currency. The graph shows the dollar bolivar exchange rate (number of bolivars to buy one dollar on the Y axis). The large drop in the exchange rate is because Venezuela chopped zeros off its currency and dropped the exchange rate to B4.5 = $1 in November 2021. Since then, the exchange rate has held relatively stable for the past 6 months but has moved to about $B5 = $1 in June 2022 (FRED updates the graphs for prior months, hence June is missing). Suppose you invested $100 in Venezuela in Bolivars in 2020 at B500,000 = $1 exchange rate. You made a 100% return in your investment in bolivars over the course of a year, and then cash out to switch to dollars in October 2021 with the exchange rate at B4 million = $1. How much money did you make in dollars? (Note: that is, you have dollars, switch to Bolivars, get your return, then move your money back to dollars.) 2 ptsStep by Step Solution
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