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In July 2016, the one year interest rate is 12% on British pounds and 9% on U.S. dollars. If the current exchange rate is $1.63:1,

In July 2016, the one year interest rate is 12% on British pounds and 9% on U.S. dollars. If the current exchange rate is $1.63:1, what is the expected future exchange rate in three year?

Is it 1.63*(1.09/1.12)^3 = USD1.5025/GBP?

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