The one-year interest rate is 11 in the united kingdom and, Financial Management

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The one-year interest rate is 11 in the united kingdom and

Forecasting the future spot rate based on IFE. Assume that the spot exchange rate of the Singapore dollar is £0.35. The one-year interest rate is 11% in the United Kingdom and 7% in Singapore. What will the spot rate be in one year according to the IFE? (You may use the approximate formula to answer this question.)

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