Q:

Three$-$years ago the USD$/$RUB exchange rate was $77\mathrm{.}37$ and today the exchange rate now sits at USD$/$RUB $92\mathrm{.}58.$ Three$-$years ago the USD$/$INR exchange rate wa $74\mathrm{.}71$ and today the exchange rate now sits at USD$/$INR $83\mathrm{.}30.$

Russian inflation has been at rates of $9\mathrm{.}2\%,11\%$ and $7\mathrm{.}7\%$ over the last $3$ years. In India, the inflation rates have been $5\mathrm{.}5\%,6\mathrm{.}7\%$ and $5\mathrm{.}7\%.$

$($a$)$ Has the RUB appreciated or depreciated against the INR over the last $3$ years?

$($b$)$ What is the total percentage change of the RUB against the Indian Rupee in nominal terms over the last $3$ years.

$($c$)$ Calculate today's real FX value of the RUB against the Indian Rupee adjusted for the past three year's inflation differential $($show all working$).$ Your goal is to find a value comparable to the exchange rate three years ago.

$($d$)$ Has the RUB appreciated or depreciated in real terms over the three$-$year period against the Indian Rupee? You must demonstrate and explain how it is that you know this. By how much has the RUB$$s value changed in real terms $($answer as a percentage$)?$

$($e$)$ What does the result in part $($d$)$ imply for an exporter located in Russia trying to sell to India?