The GBP/USD exchange ratio is currently 1:1.8. Inflation is forecast at 3% in the UK and at 4% in the USA.
What is the expected change in the exchange rate according to the purchasing power parity relationship (to three decimal places)?
________
The correct answer is: 1.817
The dollar would be expected to weaken against the pound sterling.
The exchange rate will be:
S1
= S0 x
= 1.8 x
= 1.817
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