Suppose the spot and six-month forward rates on the South Korean won are SKW 1,304.91 and SKW 1,314.96, respectively. The annual risk-free rate in the United States is 4 percent, and the annual risk-free rate in South Korea is 5 percent.

What must the six-month forward rate be to prevent arbitrage? (Do not include the South Korean won sign (SKW). Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)