The Chinese government announces that on December 31, 2006 the value of the Yuan will officially change from 6.40 Yuan/$ to 6.00 Yuan/$. This would be an official ________ of the Chinese currency of ________.
A) revaluation; 6.25%
B) revaluation; 6.67%
C) devaluation; 6.25%
D) devaluation; 6.67%
Correct Answer:
Verified
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