Why under interest rate parity does the country with the higher interest rate trade at a discount?

Note this concept of IRP relates to an interest rate FORWARD, this is a rate agreed today for forward delivery. The forward is priced under an arbitrage-free condition called interest rate parity. Under this condition, it considers being able to fund a deposit by borrowing in the lower interest rate currency and depositing in the higher interest rate currency, the forward is priced to avoid an arbitrage condition by locking in a forward to pay off the loan taken out to fund the deposit (a fully explained example exists in the Cognition videos):

Forward Var/Base = Spot Var/Base x ((1+r var) / (1+r base))

Where r is the de-annualised rate.

Under this condition the currency with the higher rate trades at a FORWARD discount