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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

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

Bs783

= $1.00 to

Bs1,023

= $1.00.

a. Is this a devaluation or a depreciation?

b. By what percentage did the value change?

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