In February 2002, the euro/dollar exchange rate was 1.20, and in May 2
In February 2002, the euro/dollar exchange rate was 1.20, and in May 2002, the euro/dollar exchange rate was 1.10. What happened to the exchange rate during this period?
A) Euro appreciated against the dollar.
B) Euro depreciated against the dollar.
C) Dollar appreciated against the euro.
D) Both B and C.
ANSWER
A
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