11. The current exchange rate between the United States and Britain is $1.825 per pound. The six-...

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11. The current exchange rate between the United States and Britain is $1.825 per pound. The six- month forward rate between the British pound and the U.S. dollar is $1.79 per pound. What is the per- centage difference between current six-month U.S. and British interest rates?

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Financial Markets and Institutions

ISBN: 978-0321280299

5th edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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