The US inflation rate is expected to be Rs.3 per cent annually and that of India is

Question:

The US inflation rate is expected to be Rs.3 per cent annually and that of India is expected to be 4.5 per cent annually. The current spot rate of US $ in India is Rs.47.4060/US $.Find the expected rate of US $ in India after one year and after 5 years from now using purchase power theory of 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...