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What should have been the exchange rate in january

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The Argentine peso was fixed through a currency board at Ps1.00?/$ throughout the 1990s. In January? 2002, the Argentine peso was floated. On January? 29, 2003, it was trading at Ps3.18?/$. During that? one-year period,? Argentina's inflation rate was 19?% on an annualized basis. Inflation in the United States during that same period was 2.1?% annualized.

Problem a. What should have been the exchange rate in January 2003 if PPP? held?

Problem b. By what percentage was the Argentine peso undervalued on an annualized? basis?

Problem c. What were the probable causes of? undervaluation?

Reference no: EM132908008

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