Spread for russian government bonds

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Suppose the interest on Russian government bonds is 7.4 %, and the current exchange rate is 25.6 rubles per dollar. If the forward exchange rate is 26.1 rubles per dollar, and the current U.S. risk-free interest rate is 4.1 %, what is the implied credit spread for Russian government bonds? (Round to two decimal places)

Reference no: EM131478621

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