Assume that the interest rate on 12-month US dollar deposits in London is currently 2.6875 percent per
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Assume that the interest rate on 12-month US dollar deposits in London is currently 2.6875 percent per year and the rate on British pound deposits there is 4.1875 percent per year. The spot exchange rate is US $1.93/£. What do you expect the exchange rate to be in one year?
Exchange RateThe value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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