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You have the following financial market information. You also have 1.42 million Australian dollar (A$) or 3.81 million Thai baht (THB) to make a profit

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You have the following financial market information. You also have 1.42 million Australian dollar (A$) or 3.81 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)

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Bid price Ask price THB spot rate A$0.0467 A$0.0622 THB one-year forward rate A$0.0408 A$0.0665 THB24.7451 Ans A$ spot rate THB22.1751 A$ one-year forward rate THB27.8444 THB29.1234 Deposit rate Loan rate Interest rate on A$ 2.42% 4.00% Interest rate on THB 6.26% 8.95%

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