Casper Landsten-Thirty Days Later. Casper Landsten once again has $1 million (or its Swiss franc equivalent) to invest for three months. He now faces the following rates. Should he enter into a covered interest arbitrage (CIA) investment? Arbitrage funds available $ 1,000,000 1.3392 Spot exchange rate (SFr/$) 3-month forward rate (SFr/$) 1.3283 U.S. Dollar annual interest rate 4.755 % Swiss franc annual interest rate 3.627 % and invest in the yielding currency, the and then sell the principal and interest forward three months locking in The CIA profit potential is %, which tells Casper Landsten he should borrow a CIA profit. (Round to three decimal places and select from the drop-down menus.)