You work for an Argentinean wine exporter and expect to receive USD 1 million in one year from a U.S. client. You can trade at the following prices: Form a forward market hedge. Identify which currency you are buying and which you are selling forward. When will currency change hands? Today? Or in one year? Replicate the payoff on the forward contract with a money market hedge by using the spot currency and interest rate markets. Identify each contract in the hedge. are quoted prices in these currency and interest rate markets in equilibrium? If not, explain briefly how you would arbitrage this disequilibrium (you do not need to make any calculations related to the possible arbitrage opportunity. Just state the arbitrage strategy)