Impact of Economic Boom and Monetary Policy on Exchange Rate

Consider the country of Ypsilon, which is experiencing an economic boom that has led to higher inflation rates. At the same time, the government of Ypsilon implements a monetary policy that lowers interest rates to stimulate growth. In a scenario where the currency of Ypsilon is considered a floating exchange rate regime, what is the likely impact on the exchange rate of Ypsilon's currency against a foreign currency?