Which of the following will NOT cause a depreciation of the rand against the dollar? (1) A decrease in imports from the United States. (2) A decrease in exports to the United States. (3) A decrease in...

Which of the following will NOT cause a depreciation of the rand against the dollar?


(1) A decrease in imports from the United States.
(2) A decrease in exports to the United States.
(3) A decrease in the number of tourists visiting South Africa from the United States.
(4) An increase in the number of American investors selling their shares in South African companies and converting the proceeds to dollars.