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A Big Mac costs 4.8 in Europe , while it costs $4.6 in the U.S. The actual market exchange rate is S($/)=1.1. Then real (effective)

A Big Mac costs 4.8 in Europe , while it costs $4.6 in the U.S. The actual market exchange rate is S($/)=1.1.

Then real (effective) exchange rate implied by the Big Mac is what?

(Please keep two decimal numbers.)

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