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At the beginning of your vacation to Colombia, the exchange rate between Columbian Peso (COP) and dollar in Miami was COP 3,200.00/$. At the end

At the beginning of your vacation to Colombia, the exchange rate between Columbian Peso (COP) and dollar in Miami was COP 3,200.00/$. At the end of your vacation, it was COP 3,318/$. You look at figures from the perspective of a U.S. Citizen. For you, this is:

  1. An appreciation of the dollar
  2. Two answers in this question are correct
  3. A depreciation of COP.
  4. A depreciation of the dollar.

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