In February 2002 the eurodollar exchange rate was 120 and in

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?

Euro appreciated against the dollar.

Euro depreciated against the dollar.

Dollar appreciated against the euro.

Both B and C.

Solution

Both B and C