Consider the Two Exchange Rates, in Period 1 and Period $$E _ { 1 } = \frac { R s 46.6 } { \$ 1 } \text { and } E _ { 2 } = \frac { R s 53.4 } { \$ 1 }$$

Consider the two exchange rates, in period 1 and period 2: $$E _ { 1 } = \frac { R s 46.6 } { \$ 1 } \text { and } E _ { 2 } = \frac { R s 53.4 } { \$ 1 }$$ .
(Rs is the Indian rupee.) Over this time, the:

A) dollar has neither appreciated nor depreciated
B) rupee has depreciated
C) dollar has depreciated
D) euro has appreciated
E) rupee has neither appreciated nor depreciated