You checked the €/$ exchange rate a week ago and you found that one Dollar cost you €0.8214.When you checked the €/$ exchange rate again yesterday one dollar was trading at €0.8026.By how much did the value of the Euro appreciate (depreciate) ?
A) depreciated by 3.56%
B) appreciated by 3.56%
C) appreciated by 2.29%
D) depreciated by 2.29%
Correct Answer:
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