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Foreign Exchange Rates in Russia

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In 1998, the Russian ruble depreciated 54% against the Deutschmark. How much did the Deutschmark appreciate against the Ruble?

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Solution Summary

The solution determines how much the Deutschmark appreciate against the Ruble.

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Suppose initially, 1 Russian Rouble = x DM
In 1998, 1 Russian Rouble = 0.46x DM , such that ...

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