In December of 2020 the exchange rate between the USD and the Uruguayan peso (UYU) was 45.94 UYU = 1 USD. In October of 2022 the exchange rate was 40.95 UYU = 1 USD. Which of the following describes how much the value of the UYU changed against the USD over this time-period? If applicable, include 4 decimal places in your calculations. Include two decimal places in your answer. None of the other answers are correct. The UYU appreciated 11.93% against the USD. The UYU depreciated 10.86% against the USD. The UYU depreciated 11.93% against the USD. The UYU appreciated 10.86% against the USD.
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