Assume the Foreign Exchange Rate for the Euro Was A$1

Multiple Choice

Assume the foreign exchange rate for the euro was A$1.00 = .70 euro last month. This month, the exchange rate is A$1.00 = .72 euro. This information indicates that over the past month the

A) euro appreciated relative to the dollar.
B) euro depreciated relative to the dollar.
C) Australian dollar appreciated relative to all foreign currencies.
D) Australian dollar remained unchanged relative to the euro.