The chinese yuan was reset from 828 yuan to 811 yuan in, Financial Management

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The chinese yuan was reset from 828 yuan to 811 yuan in

The Chinese Yuan was reset from 8.28 Yuan? $ to 8.11 Yuan / $ in July 2005. If Cnooc (Chinese Corporation) had agreed to acquire Uncoal (US corporation) before July for a pre-set price in dollars,

a. Cnooc would pay more in Yuan for Uncoal after July

b. Cnooc would get to save Yuan on the acquisition after July

c. Uncoal would receive more in dollars from Cnooc after July

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