The exchange rate changed from € 2.5/ $ to € 2.0/ $. Therefore:

a. The euro appreciated by 25% and the dollar depreciated by 20%.
b. The euro appreciated by 25% and the dollar depreciated by 25%.
c. The euro depreciated by 25% and the dollar appreciated by 25%.
d. The euro appreciated by 20% and the dollar depreciated by 25%.
e. The euro depreciated by 20% and the dollar appreciated by 20%.


.A

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