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Explain the distinction between nominal and real exchange rate. Would the real exchange rate of Bangladesh appreciate or depreciate if inflation in Bangladesh is higher

Explain the distinction between nominal and real exchange rate. Would the real exchange rate of Bangladesh appreciate or depreciate if inflation in Bangladesh is higher than that of its trading partner (algebraically show why?)

Explain the following concepts: a) Nominal exchange rate b) Fixed exchange rate system c) Floating exchange rate system d) Real exchange rate

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