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You have the following financial market information. You also have 1.41 million Australian dollar (A$) or 3.86 million Thai baht (THB) to make a profit

You have the following financial market information. You also have 1.41 million Australian dollar (A$) or 3.86 million Thai baht (THB) to make a profit due to covered interest arbitrage (CIA). Calculate the profit in percentage if the CIA opportunity exists in the market. (enter the two decimal number without sign and symbol) Bid price Ask price THB spot rate A$0.0409 A$0.0614 THB one-year forward rate A$0.0465 A$0.0681 A$ spot rate THB22.0788 THB24.5414 A$ one-year forward rate THB27.9162 THB29.6528 Deposit rate Loan rate Interest rate on A$ 2.87% 4.05% Interest rate on THB 6.06% 8.09%

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