Does interest rate parity imply that interest rates are the, Business Management

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Does interest rate parity imply that interest rates are the

1. Does interest rate parity imply that interest rates are the same in all countries?

2. Why might purchasing power parity fail to hold?

3. A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 9 Mexican pesos or for 111.23 Japanese yen. What is the crossexchange rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged?

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