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The following spot rate and forward rate of two currencies is given to you. 1 British Pound = 1.3320 US$ spot rate . One year

The following spot rate and forward rate of two currencies is given to you.

1 British Pound = 1.3320 US$ spot rate .

One year forward rate :

1 British pound = US$ 1.3500.

With this information when you compare the spot rate and the forward rate which currency has appreciated and which currency has depreciated in the forward market .

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