Business
Business, 12.11.2019 03:31, saltedcaramel60

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?

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The turkish lira (tl) was officially devalued by the turkish government in february 2001 during a se...

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