The Venezuelan government officially floated the Venezuelan Bolivar Fuerte (VEF) in February 2002. Within 30 days, its value had depreciated from VEF778/$ to VEF1025/$. On a per annum basis, how much had it changed?

2. As the crisis in Venezuela deepened in late 2002 and early 2003, on January of 2003 the VEF was trading VEF1400/$. By February 1, it was trading at VEF1950/$ and was projected to be trade at 40% lower to the dollar by June 2003.
   1. What was the percentage change in January?
   2. What would it be trading at based on projections by June, 2003?