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RDP 2004-06: Profitability of Reserve Bank Foreign Exchange Operations: Twenty Years After the Float
Equation (3)
Π
t
n
i
=
Σ
i
−
1
t
e
i
[
(
r
i
∗
−
r
i
)
Σ
j
=
1
i
(
ν
j
−
m
j
)
]
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