Until 2007, the value of the Chinese Yuan was pegged to the US dollar at 1 CNY to 0.121 USD. On 11 June 2007, the peg was finally lifted, which saw an immediate one-time renminbi revaluation to 8.11 per dollar, and the exchange rate against the euro stood at 10.07060 per euro.

1.By what percentage had the US dollar appreciated/depreciated against the Chinese Yuan on 11 June 2007?

2.The Bank of China borrowed 50 billion US dollars from the Bank of America before the peg was finally lifted. What was the benefit/cost of the loan for the Bank of China in Chinese Yuan?