Suppose you want to infer expected future exchange rates in a less-developed country that has free-market-determined interest

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Suppose you want to infer expected future exchange rates in a less-developed country that has free-market-determined interest rates but does not have a forward exchange market. Is there any other way of inferring expected future exchange rates? Under what assumptions?
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International Money and Finance

ISBN: 978-0123852472

8th edition

Authors: Michael Melvin, Stefan C. Norrbin

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