Venezuelan Bolivar (B). The Venezuelan government officially floated the Venezuelan bolivar (Bs) in February 2002. Within weeks, its value had moved from the pre-float fix of to . The Venezuelan political and economic crisis deepened in late 2002 and early 2003. On January 1, 2003, the bolivar was trading at . By February 1, its value had fallen to . Many currency analysts and forecasters were predicting that the bolivar would fall an additional from its February 1 value by early summer 2003. a. What was the percentage change in January? b. What is the forecast value for June 2003?

a. What was the percentage change in January? The percentage change is negative 28.34%. (Round to two decimal places.)

b. What is the forecast value for June 2003? The forecast value for June 2003 is Bs 1. (Round to the nearest Bolivar.)