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The FX rate has changed from $1.10/euro to $1.20/euro. Calculate the percentage change of FX rate and define how the value of euro has changed?

The FX rate has changed from $1.10/euro to $1.20/euro. Calculate the percentage change of FX rate and define how the value of euro has changed?

appreciation by 9.09%

appreciation by 11.97%

depreciation by 6.67%

depreciation by 9.09%

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