Singapore Dollar (SG $) and Indian Rupee rates are available to you as under Spot rate 90 day rate SGD 1 = INR 20.725 SGD 1 = INR 20.687 INR 1 = SGD 0.04825 INR 1 = SGD 0.04834 Singapore prime interest rate as on date is 9.5%. Use 365 days a year. Required: i) Explain what is implied about the Indian interest rate. ii) Calculate and comment on Indian interest rate if the forward exchange rate was 0.04798 SG$/Rs. iii) Calculate and comment on 90 days forward rate on F/SG$ if Indian interest rate was 8%