In the October 23, 1999, issue, The Economist reports that the interest rate per annum is 5.93

Question:

In the October 23, 1999, issue, The Economist reports that the interest rate per annum is 5.93 percent In the United States and 70.0 percent in Turkey. Why do you think the Interest rate is so high in Turkey? On the basis of the reported interest rates, how would you predict the change of the between the U.S. dollar and the Turkish lira?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...