Hyperinflation in Turkey. Visit www.imf.org to sketch the nominal lira price of one U.S. dollar over the

Question:

Hyperinflation in Turkey. Visit www.imf.org to sketch the nominal lira price of one U.S. dollar over the period 1994–2001. Contrast it with the real/PPP rate over the same period. Was the lira over- or undervalued vis-à-vis the U.S. dollar?

Use monthly data and log scale to contain exchange rates on one page.

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