The turkish lira tl was officially devalued by the turkish, Ask an Expert

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The Turkish Lira (TL) was officially devalued by the Turkish government in February 2001 during a severe political and economic crisis. The Turkish government announced on February 21 that the lira would be devalued by 20%. The spot exchange rate on February 2001 was TL68,000/$.

a) What was the exchange rate after 20% devaluation?

b) Within three days the lira had plummeted to TL100, 000/$. What percent change was this from the re-evaluation rate?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91266525

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