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Real exchange rate and quote structure
Suppose the exchange rate is quoted as FC C (same as DC/FC).
Then the equation for the real exchange rate
Real S(DC/FC) = S(DC/FC) * ( P(FC) / P(DC) )
That is to say, in other circumstances you follow the DC/FC convention for putting the rates into the formula, but here it is inverted, the FC on top and the DC in the denominator.
Why is it inverted? I don’t get it. |
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发表于 2013-4-20 00:06
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