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In October 2 0 1 3 , there is a consensus in the capital market that the annual inflation rate is likely to be 3

In October 2013, there is a consensus in the capital market that the annual inflation rate is likely to be 3.5% in US and -1.5% in China for the next two years. The spot exchange rate in October 2013 is CNY6.10/$. Based on this information, answer the following questions regarding your prediction on foreign exchange rate.
Using the exact version of parity relationships the expected spot rate in October 2014(one year from 2013) is CNY
/$.(Please use indirect quote and leave 2 decimal points)(2 points)

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