In December 2020 the government of Syria officially changed of its value of its SYP(Syrian Pound) by 65% per USD -3,00 SYP/USD. Required: 1. What was the percentage change in its value? Was this depreciation, devaluation, appreciation or revaluation? Explain 2. If your business is importing and exporting goods from and to Syria, what would you do to protect your business against the currency fluctuation.
In December 2020 the government of Syria officially changed of its value of its SYP(Syrian Pound) by 65% per USD -3,00 SYP/USD. Required: 1. What was the percentage change in its value? Was this depreciation, devaluation, appreciation or revaluation? Explain 2. If your business is importing and exporting goods from and to Syria, what would you do to protect your business against the currency fluctuation.
Chapter22: International Finance
Section: Chapter Questions
Problem 3QP
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In December 2020 the government of Syria officially changed of its value of its SYP(Syrian Pound) by 65% per USD -3,00 SYP/USD.
Required:
1. What was the percentage change in its value? Was this
2. If your business is importing and exporting goods from and to Syria, what would you do to protect your business against the currency fluctuation.
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