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Chinese RMB is currently priced at $ 1 7 per 1 0 0 yuan. Assume a continuously compounding interest rate on dollar at 1 %

Chinese RMB is currently priced at $

17

per

100

yuan. Assume a continuously compounding interest rate on dollar at

1 %,

and a continuously compounding interest rate on RMB at

5 % .

Assume both RMB and dollar can be traded freely without cost. What is the

2 -

year forward price on

100

yuan?

(

Round to

2

decimals

) "

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