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The South African Rand is trading at USD/ZAR 14.34. The 1-year USD OIS rate is trading at 2.59%, and the comparable one year ZAR rate

The South African Rand is trading at USD/ZAR 14.34. The 1-year USD OIS rate is trading at 2.59%, and the comparable one year ZAR rate is trading at 8.40%. You call up a broker and get a quote for a 1-year forward FX rate of 14.75.

What should the market quote be for a 1-year USD/ZAR forward FX rate be? (Round to 4 digit places in your answer, though you may want to incorporate a higher degree of precision in your calculations.

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