As of November $1,1999,$ the exchange rate between the Brazilian real and U$.$S$.$ dollar is $R$$$1\mathrm{.}99$ per $$.$ The consensus forecast for the

U$.$S$.$ and Brazil inflation rates for the next $1-$year period is $2\mathrm{.}7\%$ and $20\%,$ respectively. What would you forecast the exchange rate to be

at around November $1,2000?$

Required:

The expected Brazilian real exchange rate in one year:

Brazilian reals per $1$ USD.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Exchange rate