The following futures prices are in Zambian Kwacha per West African Franc. June 0.6964 September 0.6983 December 0.7013 Required: (i) Using the forward market and currency futures market as appropriate devise a foreign exchange hedging strategy that is expected to maximize the cash flows of Namanje Ine at the end of the three month period. Transactions costs and margin requirements may be ignored. Basis risk may be assumed to be zero at the time the contracts are closed out. Futures contracts may be assumed to mature at the month end. (10 marks) (ii) Compare and contrast forward contracts and currency futures for hedging against foreign exchange risk