国际金融international finance -.pptVIP

Figure 13-3: The Relation Between the Current Dollar/Euro Exchange Rate and the Expected Dollar Return on Euro Deposits Expected dollar return on euro deposits, R€ + (Ee$/€ - E$/€)/(E$/€) Today’s dollar/euro exchange rate, E$/€ 1.02 1.03 1.05 1.07 0.031 0.050 0.069 0.079 0.100 1.00 The Equilibrium Exchange Rate Exchange rates always adjust to maintain interest parity, the equilibrium exchange rate is point 1 (Figure 13-4). Assume that the dollar interest rate R$, the euro interest rate R€, and the