The Australian cash rate is expected to be 3.90% p.a. over the next year, while the Chinese cash rate is expected to be 3.15% p.a., both given as nominal effective annual rates. The current exchange rate is 4.5918 CNY per AUD. What is the implied 1-year forward foreign exchange rate? (Round to four decimal places.) (A) 4.6252 CNY per AUD

(B) 3.7088 CNY per AUD

(C) 4.5587 CNY per AUD

(D) 0.2178 AUD per CNY