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If the Spot rate of EGPJPY is 6.65 and the forward rate is 6.89. You are also given that the EGP interest rate is 8.25%,

If the Spot rate of EGPJPY is 6.65 and the forward rate is 6.89. You are also given that the EGP interest rate is 8.25%, whereas the JPY interest rate is 8.59%. Compare the interest and exchange rates agios. State whether there is an arbitrage opportunity based on your calculation or not. (Round to two decimals)

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