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In the October 2 3 , 1 9 9 9 issue, the Economist reports that the interest rate per annum is 5 . 9 4
In the October issue, the Economist reports that the interest rate per annum is in the United States and in Turkey. Based on the reported interest rates, how would you predict the change of the exchange rate between the US dollar and the Turkish lira according to international Fisher effect? The expected appreciation or depreciation of the Turkish lira against the US dollar according to international Fisher effect:
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