International Financial Management 2nd Edition by Geert Bekaert ,Robert Hodrick

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Web Problem: Go to www.oanda.com/currency/ big-mac-index. Oanda reports the last available Big Mac index but then updates the exchange rates on a regular basis to compare them with the PPP-based exchange rates. What are currently the most undervalued and overvalued exchange rates How would you use this information in forecasting exchange rates