HCL Technologies is an Indian global IT services company headquartered in Noida, India. HCL Technologies continued its expansion into the U.S. by recently acquiring Capital Stream, a Seattle, Washington, and provider of software that enables commercial banks to establish integrated financial supply chains. As a subsidiary, Capital Stream generates revenue in dollars for its parent company, HCL Technologies. Consider the movement of the exchange rate of the U.S. dollar to the Indian rupee from April 1, 2014 to April 1, 2015. Would HCL Technologies approve or disapprove of the exchange rate movement of the dollar and why?
A. Approve. During the year, the dollar appreciated. As a result, HCL Technologies' revenue from Capital Stream's services in the U.S. was higher when converted from dollars to rupees
B. Approve. During the year, the dollar depreciated. As a result, HCL Technologies' revenue from Capital Stream's services in the U.S. was higher when converted from dollars to rupees.
C. Disapprove. During the year, the dollar appreciated. As a result, HCL Technologies' revenue from Capital Stream's services in the U.S. was lower when converted from dollars to rupees.
D. Disapprove. During the year, the dollar depreciated. As a result, HCL Technologies' revenue from Capital Stream's services in the U.S. was lower when converted from dollars to rupees.