A year ago, one dollar could have bought 0.89 euros. Today, one dollar can buy 0.85 euros. Based on this information, which of the following statements is CORRECT.

Select one:

a. The dollar is selling at a forward premium against the euro.

b. The dollar has appreciated against the euro.

c. The dollar is selling at a forward discount against the euro.

d. The euro has appreciated against the dollar.