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You have the following market data. Continuously compounded two-year risk-free interest rates in Australia and the U.S. are 4.86% and 6.63%, respectively, per annum. Spot

You have the following market data.

Continuously compounded two-year risk-free interest rates in Australia and the U.S. are 4.86% and 6.63%, respectively, per annum.

Spot exchange rate between the Australian dollar and the U.S. dollar is $1.136 per Australian dollar.

What is the no-arbitrage two-year forward exchange rate (expressed in U.S. dollars)?

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