A U.S based company has a short term cash balance of USD 10 million.The company intends to invest in government securities for 120 days the current spot rate and exhange rate future exchange rate (december 2017 futures ) of USD angainst GBP are 1.6971 and 1.6950 respectively. The US treasury bill rate is 15 percent per annum. The British 120 day gilt rate is 5.60 per annum.

compute the implied rate, and advise the company in short- term investing strategy

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