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1. On January 1, 1975, the Mexican peso/U.S.$ exchange rate was Ps 12.5 = $1. By...

1. On January 1, 1975, the Mexican peso/U.S.$ exchange rate was Ps 12.5 = $1. By 1985, the exchange rate stood at Ps 208.9 = $1.

a. Are these direct or indirect quotes?

b. By how much did the Mexican peso appreciate or depreciate against the dollar over this 10-year period?

c. By how much did the dollar appreciate or depreciate against the peso over this period?

2. In the second half of 1997, the Indonesian rupiah depreciated by 84% against the U.S. dollar. By how much did the dollar appreciate against the rupiah?

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