The spot exchange rate between UK pound and the Indian Rupee is 1= 103 Rupee. The expected inflation rate in India is 10% while inflation in the UK is expected to be 5%. Which statement most accurately describes the exchange rates next year?

A. The pound will certainly depreciate with respect to the Rupee

B. The pound will certainly appreciate with respect to the Rupee

C. The exchange rate will stay the same

D. The pound may appreciate or depreciate with respect to the Rupe