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As of today, the spot exchange rate between China and the U.K. is 1 GBP = 9.5 CHY. Rates of inflation expected to prevail for

As of today, the spot exchange rate between China and the U.K. is 1 GBP = 9.5 CHY. Rates of inflation expected to prevail for the next year in China and the U.K. are 2% and 4%, respectively. What is the one-year forward rate that should prevail?

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