International Fisher Effect (IFE) Calculator (Corrected) Notes
Spot Rate (Base / Quoted, e.g., USD/NOK) Spot exchange rate: quoted currency per 1 base currency
Base Currency Interest Rate (%) (e.g., USD) Interest or inflation rate in the base currency
Quoted Currency Interest Rate (%) (e.g., NOK) Interest or inflation rate in the quoted currency
Expected % Change in Exchange Rate -- Negative means depreciation of base currency (USD)
Forecasted Exchange Rate (Quoted/Base) -- Future rate based on IFE model

Explanation: According to the International Fisher Effect, the currency with the higher interest (or inflation) rate is expected to depreciate. If USD has a higher interest rate than NOK, USD will depreciate and buy fewer NOK in the future. This calculator correctly assumes USD is the base and NOK is the quoted currency.