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A French importer has entered into a contract under which it will require payment in GBP in one month. The company is concerned at its

A French importer has entered into a contract under which it will require payment in GBP in one month. The company is concerned at its exposure to foreign exchange risk and decides to enter into a forward exchange contract with its bank. Given the following (simplified) data, calculate the forward rate offered by the bank (round your answer to 4 decimal places and do not enter the three character currency codes). Both countries use a 365-day year; assume 30 day contract.

EUR/GBP (spot): 0.7660-69

One-month French interest rate: 4.45% p.a.

One-month UK interest rate: 3.55% p.a.

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