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According to a news source discussing foreign investment in Thailand, the exchange rate between the Thai baht (THB) and U.S. dollar has changed from 37

According to a news source discussing foreign investment in Thailand, the exchange rate between the Thai baht (THB) and U.S. dollar has changed from 37 THB = 1 USD in September 2015 to 33 THB = 1 USD in September of 2017.

Which of the following best describes the change in the value of the US dollar against the Thai bhat? Where applicable, round to FOUR decimal places in your work.

None of the above.

The US dollar appreciated by 10.81% against the Thai baht.

The US dollar depreciated by 12.22% against the Thai baht.

The US dollar depreciated by 10.81% against the Thai baht.

The US dollar appreciated by 12.22% against the Thai baht.

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