If inflation is lower in Germany than in Spain (as it is), and the exchange rate between

Question:

If inflation is lower in Germany than in Spain (as it is), and the between the two countries is fixed (as it is, because of the monetary union), what is likely to happen to the balance of trade between the two countries?

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...