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Use the following information: Annual interest rate Euros = 1.2% Annual interest rate Pesos = 6% Spot July 2, 2018 = 23.5 MXN / Euro 

Use the following information: Annual interest rate Euros = 1.2% Annual interest rate Pesos = 6% Spot July 2, 2018 = 23.5 MXN / Euro Expected Exchange Rate in the 4-month market = 22.3 MXN / Euro What type of exchange would avoid arbitrage overdraft within 4 months? Use two decimals in your answer. (round to two decimal places)

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