Year 1 Year 2

Euro per US $ 0.8210 0.8285

Sing $ per Brazilian real 0.5660 0.5740

Brazilian real per erou 3.7350 3.7150

US $ per Sing $

Then it follows that:

a. The Brazilian real has grown weaker versus the euro

b. The US $ has grown stronger versus the Sing $

c. The euro has grown stronger versus the US $

d. The Sing $ has grown stronger against the Brazilian real

e. The euro has grown stronger against the Brazilian real