The turkish lira (tl) was officially devalued by the turkish government in february 2001 during a severe political and economic crisis. the turkish government announced on february 21 that the lira would be devalued by 20%. the spot exchange rate on february 2001 was tl 68,000/$.
(a) what was the exchange rate after a 20% devaluation?
(b) within three days the lira had plummeted to tl100,000/$. what percent change was this from the predevaluation rate?
a) The exchange rate after a 20% devaluation is TL85,000/$
b) The percent change was this from the predevaluation rate is -32%
a) exchange rate after devaluation = (exchange rate before devaluation)/(1 - Devaluation)
Therefore, The exchange rate after a 20% devaluation is TL85,000/$
b) percentage change = (starting exchange rate - ending exchange rate)/ending exchange rate
= (TL68,000 - TL100,000)/TL100,000
Therefore, The percent change was this from the predevaluation rate is -32%
your just wasting your lol
so they can see what that city is producing and to also see if they can some how get that product. like gold in africa.