Suppose that last year, the 12-month interest rates for the Australia and the Greece are 2.4% and 9.8% respectively, and that the Australian dollar price of a euro is $1.39. Given this information, what was the percentage change in the exchange rate over the year? Round to two decimal places. Enter a number like 2% as "2.00" and not "0.02."
Suppose that last year, the 12-month interest rates for the Australia and the Greece are 2.4% and 9.8% respectively, and that the Australian dollar price of a euro is $1.39. Given this information, what was the percentage change in the exchange rate over the year? Round to two decimal places. Enter a number like 2% as "2.00" and not "0.02."
Chapter22: International Financial Management
Section: Chapter Questions
Problem 1P
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11
![Suppose that last year, the 12-month interest rates for the Australia and the Greece
are 2.4% and 9.8% respectively, and that the Australian dollar price of a euro is
$1.39. Given this information, what was the percentage change in the exchange rate
over the year?
Round to two decimal places. Enter a number like 2% as "2.00" and not "0.02."](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7166f0f-f519-4214-b1d2-be038b0155de%2Ff9d8cd5e-2a74-4b0f-a886-1415bf7f359b%2F9hr6o5c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose that last year, the 12-month interest rates for the Australia and the Greece
are 2.4% and 9.8% respectively, and that the Australian dollar price of a euro is
$1.39. Given this information, what was the percentage change in the exchange rate
over the year?
Round to two decimal places. Enter a number like 2% as "2.00" and not "0.02."
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