(Answered) In the october 23 1999 issue the economist reports that the

Finance

In the October 23, 1999, issue, The Economist reports that the interest rate per annum is 5.93 percent In the United States and 70.0 percent in Turkey.

Why do you think the Interest rate is so high in Turkey? On the basis of the reported interest rates, how would you predict the change of the exchange rate between the U.S. dollar and the Turkish lira?

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