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The standard deviation of the annual movements in the Swiss franc is .0557, or 5.57 percent. It is necessary to focus on the volatility of the movements, not the actual values. T

The maximum level of annual depreciation of the Swiss franc is:

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c. The standard deviation of the annual movements in the Argentine peso is .0458, or 4.58 percent. The maximum level of annual depreciation of the Argentine peso is:

874_kk.jpg

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