Vanadian currency-the plumbum

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Reference no: EM13868524

A year ago the Vanadian currency, the plumbum (VAP), had a mid-rate of VAP 6.5 to the dollar. Today it is VAP 8.7 per dollar.

a) Has the VAP appreciated or depreciated against the dollar? By what percentage?

b) Has the dollar appreciated or depreciated against the VAP? By what percentage?

Reference no: EM13868524

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