A foreign currency will, on average, depreciate against the U.S.dollar at a percentage rate approximately equal to the amount by which its inflation rate exceeds that of the United States.

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This is known as the "purchasing power parity theory." The idea is that if a country's inflation rate is higher than that of the US, its currency will be worth less in terms of the US dollar over time. This is because the higher inflation rate erodes the value of the currency's purchasing power.

A Foreign Currency Will, on Average, Depreciate Against the U