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The spot exchange rate for the number of Malaysian Ringgit (MYR) per Singapore dollar (SGD) is 3.5700 . The Malaysian LIBOR interest-rate applicable from today

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The spot exchange rate for the number of Malaysian Ringgit (MYR) per Singapore dollar (SGD) is 3.5700 . The Malaysian LIBOR interest-rate applicable from today to 6 months from now is 7.0% per annum. The Singaporean LIBOR interest-rate applicable from today to 6 months from now is 4.0% per annum. (For simplicity, there are NO bid-ask spreads). What is the forward rate for delivery 6 months from now (expressed as the number of Malaysian Ringgit (MYR) per Singapore dollar (SGD))? Give your answer to 4 decimal places. Assume six months is exactly 0.5 years and assume there is no arbitrage (i.e., use the formula from the powerpoints, the word documents or the book)

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