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Q. Panic washed over Russia on Tuesday, December 16th, 2014, as the value of the ruble dropped as much as 19 percent in one day

Q. Panic washed over Russia on Tuesday, December 16th, 2014, as the value of the ruble dropped as much as 19 percent in one day vis--vis the EUR, with Russians reportedly flooding currency exchange centers and retailers tried to swap their cash for anything that might have more value. By how much did the EUR appreciate against the RUR?

1. EUR depreciated 23%

2. EUR appreciated 23%

3. EUR depreciated 100%

4. EUR appreciated 100%

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