MONEY: The Winners and Losers from Devaluation

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*Figured another way, the price of these currencies in dollars has risen a little more than 11.1%. By a peculiarity of mathematics, a German, for example, will have to pay 10% fewer marks to buy a given number of dollars, but an American will have to shell out 11.1% more dollars to buy a given number of marks. The reason before devaluation, the mark's exchange rate was 3.2225 to the dollar, and it is now 2.9003; 2.9003 is 10% less than 3.2225, but 3.2225 is 11.1% or so more than 2.9003.

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