For Chinese yuan (CNY) Spot rate One-year forward rate TABLE 1 One-year CNY deposit and borrowing rate One-year call options One-year put options For Australian dollar (A$) Spot rate One-year forward rate One-year A$ deposit and borrowing rate One-year call options One-year put options A$0.4062/CNY A$0.5567/CNY 7.44% = Exercise price A$0.53 Premium A$0.04 Exercise price = A$0.57 = Premium A$0.05 CNY3.1618/A$ CNY1.5621/A$ 4.43% Exercise price = CNY1.98 Premium CNY0.16 Exercise price = CNY1.84 Premium CNYO.10