Abstract: In a simplified statistical test of the International Fisher Effect (IFE), a regression analysis was applied to historical exchange rates and interest differential data for some selected countries; namely, Libya and the Euro countries. Also, Fishers international impact on accounting and technology has been somewhat positive and good in some years in terms of impact. Each of these countries was interchangeably used as the home country, and foreign country to track the trail of the effect. While caution must be exercised in applying and assessing the theory, the IFE model may not be realistic to put into practice in daily currency transactions, but its value lies in its ability to illustrate the expected relationship between interest rates, inflation and exchange rates.