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Suppose that the one-year interest rate is 2.38 percent in the Italy, the spot exchange rate is $1.2991/, and the one-year forward exchange rate is

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Suppose that the one-year interest rate is 2.38 percent in the Italy, the spot exchange rate is $1.2991/, and the one-year forward exchange rate is $1.3163/. What must one- year interest rate be in the United States? Answer Format: Round to four decimals. Example: 1.1234

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