Bangkok Broken. The Thai baht (THB) was devalued by the Thai government from THB24.76 = USD1.00 to THB28.96 USD1.00 on July 2, 1997. What was the percentage devaluation of the baht? What was the percentage devaluation of the baht? The percentage devaluation of the baht is ☐ %. (Round to two decimal places.)
Bangkok Broken. The Thai baht (THB) was devalued by the Thai government from THB24.76 = USD1.00 to THB28.96 USD1.00 on July 2, 1997. What was the percentage devaluation of the baht? What was the percentage devaluation of the baht? The percentage devaluation of the baht is ☐ %. (Round to two decimal places.)
Chapter4: Exchange Rate Determination
Section: Chapter Questions
Problem 1BIC
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