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You have the following financial market information. You also have 1.21 million Australian dollar (A$) or 3.85 million Thai baht (THB) to make a profit

You have the following financial market information. You also have 1.21 million Australian dollar (A$) or 3.85 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$0.0482

A$0.0694

THB one-year forward rate

A$0.0461

A$0.0679

A$ spot rate

THB22.7325

THB24.9533

A$ one-year forward rate

THB27.8536

THB29.9373

Deposit rate

Loan rate

Interest rate on A$

2.66%

4.59%

Interest rate on THB

6.66%

8.13%

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