Suppose that the current spot exchange rate of U.S. dollars for Thai Baht is $0.0263/ Baht. According to PPP, the 9 percent rise in the price of Baht goods relative to the 5 percent rise in the price of U.S. goods results in a(n) depreciation of the Thai Baht by 4 percent. depreciation of the U.S. Dollars by 4 percent. depreciation of the Thai Baht by 9 percent. depreciation of the U.S. Dollars by 5 percent. appreciation of the U.S. Dollars by 9 percent