Examlex
An interest rate spread is the difference between an interest rate on a risky asset and the corresponding interest rate on a risk-free treasury security.
Houston
The fourth-largest city in the United States, located in Texas, known for its energy industry, particularly oil and natural gas.
Purchasing Power Parity
A theory that states the exchange rates between two currencies are in equilibrium when their purchasing power is the same in both countries.
Foreign Exchange Market
A global marketplace for exchanging national currencies against one another, fundamental for international trade and investment.
Relative PPP
Stands for Relative Purchasing Power Parity, a theory that suggests that in the long term, exchange rates should adjust so that similar goods cost the same in different countries.
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