Tai Ping Trading Company $($HK based company$)$ expects to receive $45,435,345$ Japanese yen $60$ days from now. Based on the HSBC website, the current spot rate of the yen per $1,000$ is $$55\mathrm{.}3125,$ while the forward rate per $1,000$ is $$54\mathrm{.}1512.$ It is expected the spot rate in $60$ days to be $$54\mathrm{.}6210$ based on HSBC currency forecast.

a$.$ You are required to write an email to instruct your bank HSBC on the use of forward contract.

$(12$ marks$)$

b$.$ Advise if it is good to use forward contract with brief justification. $(4$ marks$)$