sherina expects to mke payment of GBP 61,200 in 3 months time to its supplier in london,uk. due to the recent appreciation of several foreign currencies against the ringgit, the firm believes that it should hedge this payable either through forward contract or money market. currently, the interest rate in malaysia and the uk are 12% and 8% respectively. the current spot rate is RM5.5410/ 1UK and the forward rate rm5.5564/1UK