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The spot rate between the U.S. dollar and the New Zealand dollar is $1 = NZD1.3388. Assume the interest rate in the United States is

The spot rate between the U.S. dollar and the New Zealand dollar is $1 = NZD1.3388. Assume the interest rate in the United States is 8 percent and in New Zealand is 4 percent.

What should be the 3-month forward exchange rate? (Do not round intermediate calculations. Round your answer to 4 decimal places.)

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