An Indian exporter has to get

export proceeds after three months. He is expecting changes in the exchange rate. So$,$ he goes for hedging the risk. The currency market has the following data: $($

$($i$)$ Spot rate on the date of contract Rs $81/$

ii$)$ Three months forward rate Rs$80\mathrm{.}51/$

$($iii$)$ Interest rate on borrowing in India $6\%$ p$.$a

$($ iv$)$ Interest rate

UK on deposit $/$ investment is $5\%$ p$.$a$.$

$($v$)$ Spot rate on the date of payment $/$ maturity Rs $80\mathrm{.}30/$

Will he go for hedge? If so$,$ which hedge, money market hedge, will he select?

of the options

no hedge, forward market