As of today, assume the following information is available:

U.S. Mexico

Real rate of interest required by investors 3% / 3%

Nominal interest rate 12% / 16%

Spot rate / $.20

One year forward rate / $.192

Using the differential in expected inflation (PPP), what is the forecasted percentage change in the Mexican peso over the next year? (Note: according to Fisher effect, nominal interest=real interest +expected inflation)