Six-month T-bills have a nominal rate of 7 percent, while default-free Japanese bonds that mature in 6

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Six-month T-bills have a nominal rate of 7 percent, while default-free Japanese bonds that mature in 6 months have a nominal rate of 5.5 percent. In the spot exchange market, one yen equals SO. 009.' If interest rate parity holds, what is the 6-month forward exchange rate?

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