Calculate both the percentage appreciation of the currency

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Reference no: EM131316712

One month ago, the Mexican peso (Ps) - U.S. dollar exchange rate was Ps9.0395/$ ($0.1107/Ps). This month, the exchange rate is Ps9.4805/$ ($0.1055/Ps).

State which currency appreciated and which depreciated over the last month, and then calculate both the percentage appreciation of the currency that rose in value and the percentage depreciation of the currency that declined in value.

Reference no: EM131316712

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