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2. Suppose the exchange rate for Singapore (dollar (SGD) is currently SGD1.36 per USD. If the interest rate in the US is 3%, and the

2. Suppose the exchange rate for Singapore (dollar (SGD) is currently SGD1.36 per USD. If the interest rate in the US is 3%, and the interest rate in Singapore is 6%, then what must be the forward rate be to prevent covered interest rate arbitrage?

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