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8. Assume the following information: One-year deposit rate offered on USD = 12% One-year deposit rate on Singapore dollars (SGD) = 10% One-year forward rate

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8. Assume the following information: One-year deposit rate offered on USD = 12% One-year deposit rate on Singapore dollars (SGD) = 10% One-year forward rate of SGD (in USD terms) = 0.8000 Spot rate of SGD (in USD terms) = 0.7500 Given this information, does interest rate parity (IRP) hold? If not, why not

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