The spot exchange rate for Indian rupees is 44 INR/CAD.The one-year forward exchange rate is 46 INR/CAD and the one-year Canadian interest rate is 5%.What is the implied one-year interest rate in India?
A) 8.56%
B) 9.24%
C) 9.77%
D) 10.24%
E) 11.01%
Correct Answer:
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