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Problem 4 If the Chinese yuan increased in value against the dollar from Yuan8.30/$ to Yuan8/8. The Hong Kong dollar's peg to the dollar was

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Problem 4 If the Chinese yuan increased in value against the dollar from Yuan8.30/$ to Yuan8/8. The Hong Kong dollar's peg to the dollar was HK$7.80/$. a) What's the new Hong Kong dollar to Chinese Yuan cross rate? b) What's the percentage change in the value of Hong Kong dollar relative to the Yuan

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