Please select the best choice for each question and provide explanation.

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On 12/30/1998 IBOVESPA (the Brazilian main stock index) closed the year at 6784. Two and a half months later on 3/18/1999, the IBOVESPA was at 10894, over 60% grov.rth. The explanation for such a change in such a short period may rest on the exchange rate market. Select the most likely explanation for this change from the list below (only one). O A massive depreciation of the Brazilian currency made foreign direct investment increase and new IPOs (initial public offerings) explain the growth in the stock market. O A massive appreciation of the Brazilian currency prompted foreign investors to increase their trust in the economic policy thereby increasing the demand for traded Brazilian firms. O A massive depreciation of the Brazilian currency made traded Brazilian firms cheaper to buy for foreign investors, increasing short-term portfolio flows into the country. O A massive appreciation of the Brazilian currency prompted foreign importers to increase their demand for Brazilian goods, which in turn increased the demand for traded Brazilian exporting firms in the local stock market.