i)You are provided the following information on the Mexican Peso:

Current spot rate: $ 0.1000/MP (MP = Mexican Peso)

345-day inflation rate in the US: 5%

345-day inflation ratein Mexico: 30%

345-day Forward rate for the MP @ the US$: $ 0.1010/MP

Forecast of the 345day rate from agency 1: $ 0.1300/MP

Forecast of the 345day rate from agency 2: $ 0.0811/MP

Forecast of the 345day rate from agency 3: $ 0.1399/MP

Forecast of the 345day rate from agency 4: $ 0.0825/MP

Forecast of the 345day rate from agency 5: $ 0.1100/MP

Forecast of the 345day rate from agency 6: $ 0.0922/MP

The actual spot rate 345days from now: $ 0.1010/MP

2a)Rank the agencies in terms of their forecasting expertise, assuming that the forward is available to compare forecasts. Make sure that you show all your workings for full credit

b)Assume that the forward rate was not available. Given this assumption, rank the agencies in terms of their forecasting expertise