during 1995, the mexican peso exchange rate rose from mex$5.33/u.s.$ to mex$7.64/u.s.$. at the same time, u.s. inflation was approximately 3% in contrast to mexican inflation of about 48.7%. a. by how much did the nominal value of the peso change during 1995?

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25-10-2022
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during 1995, the mexican peso exchange rate rose from mex$5.33/u.s.$ to mex$7.64/u.s.$. at the same time, u.s. inflation was approximately 3% in contrast to mexican inflation of about 48.7%. a. by how much did the nominal value of the peso change during 1995?

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contexto38 contexto38 · Answer 1 · 2022-10-28T11:24:13+02:00

During 1995, the nominal value of the peso changed by -30.24%.

Any economic statistic that has a nominal value is one that is calculated using current, accurate prices. When a statistic is referred to as having a real value, inflation has been taken into account. In general, the real value is more significant.

As per the data given above,

Initially, the exchange rate was Mex$5.33/U.S.$

i.e. Mex$5.33 = US$1.00

Or, Mex$1.00 = US$1.00/5.33 = US$0.18762

Later, the exchange rate was Mex$7.64/U.S.$

i.e. Mex$7.64 = US$1.00

Or, Mex$1.00 = US$1.00/7.64 = US$0.13089

Thus in 1995, the Mexican peso fell from $0.18762 to $0.13089.

Therefore, the devaluation of Mexican peso = [($0.13089 - $0.18762) / $0.18762]

= -0.302366 or, -30.2366%

Therefore, the nominal value of the peso changed during 1995 by -30.24%.

To learn more about the nominal value

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