Suppose the exchange rate of ($)/() Euro has been changed from $(1.09)/() Euro to $(1.05)/() Euro in the past year. Which of the following statements is CORRECT? Euro depreciated by 3.67% against $
A) Euro appreciated by 3.67% against $
B) Euro depreciated by 3.67% against $
C) Euro appreciated by 4.24% against $
D) Euro depreciated by 4.24% against $
