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(b) Assume that the spot exchange rate of the Malaysian ringgit is RM0.70 against the Chinese yuan (or RMB). The one-year interest rate is 11

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(b) Assume that the spot exchange rate of the Malaysian ringgit is RM0.70 against the Chinese yuan (or RMB). The one-year interest rate is 11 percent in Malaysia and 7 percent in China. What 7 will the spot rate be in one year according to the IFE? What is the force that causes the spot rate to change according to the IFE

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