Suppose in 2022, $1.00 U.S. was equivalent to 38 Venezuelan Bolivar, Venezuela's currency, and in 2023, it was equivalent to 35 Venezuelan Bolivar, then; the Venezuelan Bolivar depreciated against the U.S. dollar. O the U.S. dollar strengthened against the Venezuelan Bolivar. O the Venezuelan Bolivar appreciated against the U.S. dollar. O the U.S. dollar appreciated against the Venezuelan Bolivar