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Assume the following: - Current spot exchange rate: AUD 1.00=4.8 CNY - The riskfree rate in Australia is 4.7% p.a. and in China is 5.4%

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Assume the following: - Current spot exchange rate: AUD 1.00=4.8 CNY - The riskfree rate in Australia is 4.7% p.a. and in China is 5.4% p.a. (assume both rates are compounded continuously) Find the fair price for the forward contract in 6 months assuming CNY is the domestic currency. (Keep your answer to 4 decimal places)

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