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3. The US. and the country of Rue!and have the same real interest rate of 3%. The expected inflation over the next year is 6

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3. The US. and the country of Rue!and have the same real interest rate of 3%. The expected inflation over the next year is 6 percent in the US. versus 21% in Rueland. Interest rate parity exists. The one-year currency futures contract on Rueland's currency (called the u) is priced at $.40 per what is the spot rate of the ? (5 points)

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