Currencies Depreciate and Appreciate All the Time

Multiple Choice

Currencies depreciate and appreciate all the time. Who gains and who loses when the Mexican peso depreciates?

A) Americans holding Mexican pesos gain, U.S. tourists to Mexico lose
B) U.S. exporters to Mexico gain, Americans holding pesos lose
C) Mexican tourists gain, U.S. tourists in Mexico lose
D) Mexican importers gain, Mexican exporters lose
E) Mexican exporters gain, Mexican importers lose