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The economic devastation caused by the COVID-19 pandemic has driven the Federal Reserve (the U.S. central bank) to print trillions of USD in support of
The economic devastation caused by the COVID-19 pandemic has driven the Federal Reserve (the U.S. central bank) to print trillions of USD in support of the U.S. economy. This unprecedented expansion of the money supply has caused the SGD/USD exchange rate to change: [SGD = Singapore dollar] September 2020: SGD 1.32/USD September 2021: SGD 1.30/USD Calculate the change in the USD (the currency of interest) from September 2020 to September 2021. Group of answer choices -1.5% -0.081% -3.7% +0.088%
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