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You have the following exchange rate: 2011 MXN1: USD 0.08 2012 MXN1: USD 0.09 How many percent does Mexico Peso (MXN) change
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Answer #1

% change in MXN = (Rate in 2012 - Rate in 2011)/Rate in 2011

= (0.09-0.08)/0.08

= 12.5%

i.e. 12.5

Since 1 Peso now buys more dollars, it has appreciated

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