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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
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 Bs 782=$1.00 to Bs 1,027=$1.00. The Venezuelan political and economic crisis deepened in late 2002 and early 2003 . On January 1, 2003, the bolivar was trading at Bs 1,404 = \$1.00. By February 1 , its value had fallen to Bs 1,950/\$. Many currency analysts and forecasters were predicting that the bolivar would fall an additiona 38% 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 \%. (Round to two decimal places.) b. What is the forecast value for June 2003 ? The forecast value for June 2003 is Bs (Round to the nearest Bolivar.)
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