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13. Suppose you are a currency trader in South Korea. The exchange rate for the Korean won relative to the U.S. dollar is 1,114.95. This

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13. Suppose you are a currency trader in South Korea. The exchange rate for the Korean won relative to the U.S. dollar is 1,114.95. This figure is Korean won (KRW) per U.S. dollar (USD). Assume the Korean an- nually compounded risk-free rate is 1.5%, while the U. S. rate is 0.5%. Find the forward rate in KRW for a six-month contract. 14. A U.S. trader enters into a long one-year forward contract on the Russian ruble at a rate of $0.0161. Now, three months later, the forward price of a ruble expiring at the same time is $0.0166. The U.S. interest rate is 0.65%, and the contract notional is $30 million. Find the value of the contract

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