The following are quotes for several U.S. currency dealers.

Dealer	A	B	C	D	E
Japanese yen	109.97 - 110.01	110.01 - 110.05	109.98 - 110.00	109.99 - 110.02	110.02 - 110.06
Euro	1.1774 - 1.1776	1.1778 - 1.1781	1.1776 - 1.1778	1.1773 - 1.1775	1.1776 - 1.1778

Covered interest arbitrage (Inter-temporal) - assume that the highest bid and lowest ask are equal (i.e., that the bid-ask spread is zero)

9. Assume the interest rate of 1-year risk free debt denominated in US dollars is 2.75% and the interest rate on 1-year risk free debt denominated in Russian rubles is 7.25%. If the spot market exchange rate for the Russian ruble (USD/RUB) is 61.24, what is the 1-year forward exchange rate if interest rate parity holds?