Venezuelan Bolivar $($A$).$ The Venezuelan government officially floated the Venezuelan bolivar $($Bs$)$ in February $2002.$ Within weeks, its value had moved

from the pre$-$float fix of Bs$775=$$$1\mathrm{.}00$ to Bs$1,023=$ $$1\mathrm{.}00.$

a$.$ Is this a devaluation or a depreciation?

b$.$ By what percentage did the value change?

a$.$ Is this a devaluation or a depreciation? $($Select from the drop$-$down menu.$)$

This is a case in which a government has changed its currency from a governmentally determined fixed rate, to a regime in which the currency is allowed to

change in value based on supply and demand forces in the market. As a result of the move, the currency's value in this case was

against the U$.$S$.$ dollar.

b$.$ By what percentage did the value change?

The percentage depreciation is $\%.($Round to two decimal places.$)$

a "depreciation"

an "appreciation"