Question: The US dollar suddenly changes value against the euro moving from an exchange rate of $0.8909/1 euro to $0.8709/ 1 euro. Thus the dollar has

The US dollar suddenly changes value against the euro moving from an exchange rate of $0.8909/1 euro to $0.8709/ 1 euro. Thus the dollar has ___ by ____

A) appreciated 2.3%

B) depreciated 2.3%

C) appreciated 2.24%

D) depreciated 2.24%

I believe it is appreciate 2.24% because you are starting in home currency of $ so it is (.8909-.8709)/ .8909. is this correct?

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