Identify the answer which is false.

A$.$ When the IRP holds, an increase in the interest rate of one of the two currencies will create a reduction in the value of this currency on the spot market.

B$.$ The spot and forward market are not always in equilibrium described by IRP.

C$.$ The forward rate is the spot future rate that became a contractual rate when agreed upon in a forward contract.

D$.$ An increase in the interest rate in one currency should increase the value of this currency on the spot market.