Summarise the history of the exchange rate regime of a particular country. Discuss three relationships that describe the behaviour of exchange rate (CIP, PPP, IFE). Estimate the PPP between a particular country and the US.

Students are required to address three parts in the main body of this essay and content details are as blow:

1. Summarise the history of the exchange rate regime of a particular country;

2. Discuss three relationships that describe the behaviour of exchange rate (CIP, PPP, IFE);

3. Estimate the PPP between a particular country and the US. (Students need to collect monthly data for not less than 5 years to complete this part of the essay).