The Chinese government announces that on December 31, 2006 the value of the Yuan will officially change from 8.287 Yuan/$ to 7.500 Yuan/$. This would be an official ________ of the Chinese currency of ________.

Question

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Revaluation refers to an increase in the value of a currency in terms of foreign exchange. The Yuan's value increased from 8.287 to 7.500 per dollar, which is a revaluation. The percentage change is calculated as ((8.287 - 7.500) / 8.287) * 100 = 9.50%.

The Chinese Government Announces That on December 31, 2006 the Value