Given the following information is for Brazil and the US over the past year Brazil GDP Growth = -35% Short term interest rate = 1184% Consumer price inflation = 80% United States GDP Growth = 17%...

Brazil

GDP Growth = -35%

Short term interest rate = 1184%

Consumer price inflation = 80%

United States

GDP Growth = 17%

Short term interest rate = 158%

Consumer price inflation = 14%

The value of the exchange rate went from Brazilian Reals 347/US$ last year to Brazilian Reals 319/US$ last week Is this what should have happened according to Relative Purchasing Power Parity over the past year? Why? Be specific