The rate of exchange between the U.S. dollar and the Swedish Krona last Friday was K/$ = 8.0000. Today, the new rate of exchange between the two currencies is K/$ = 10.0000.

This means that:

Group of answer choices

Both currencies have appreciated.

The dollar appreciated by 2 percent against the Krona.

The dollar depreciated by 25% against the Krona.

The Krona appreciated by 0.2 percent against the dollar.

The Krona depreciated by 20 percent against the dollar.