What is the 3 month forward exchange rate what does it mean, Financial Management

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What is the 3 month forward exchange rate what does it mean

Suppose that the spot exchange rate of EUR is 1.1960 USD for 1Euro. Suppose that the 3 months USD interest rate is 1.32% annualized and Euro interest rate is negative 0.331% annualized (rates are continuously compounded) What is the 3 month forward exchange rate? What does it mean for interest rate to be negative?

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Financial Management: What is the 3 month forward exchange rate what does it mean

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