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Question
The exchange rate at the beginning of a year between the Indian Rupee (R) and the U.S. dollar is R43.125/$. The annual inflation rates in India and in the United States are 19 percent and 3 percent respectively. What would be the new exchange rate at the end of the year?A) R49.8224/$
B) R37.327/$
C) R0.0267/$
D) $37.327/R
Answer
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