what is the correlation between interest rate, exchange rate and inflation rate among 2 countries?

Answer 1

Depends on the countries you pick and the period of study. Additionally, many countries (epecially among emerging-market economies) have fixed exchange rates or tightly managed floats, so the value of their currency is determined unilaterally by their central banks with or without regard to other macro variables.

Answer 2

It depend s on the country of how much economy rating it has the exchange rate isn't permanent.