Supposed that the following quotations between Malaysian ringgit and euro (RM/) were reported in The Star newspaper recently. Spot rate 1-month 3-month Thursday 4.6500 4.6550 4.6605 Wednesday 4.6460 4.6510 4.6570 (i) Report the euro value of ringgit for each of the rates above. [2 marks] (ii) Infer how much has ringgit changed in value against euro in that one day. Has ringgit appreciated or depreciated against euro in the spot market? [2 marks] (iii) Illustrate and explain whether euro is traded at discount or premium in the forward market for 1 - and 3-month contracts. [4 marks]