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Where should the money be invested to earn higher return

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Reference no: EM132557144

Given the following information on the exchange and interest rates in Malaysia and Australia:

                                               Bid - Ask

Spot Exchange Rates AUD 0.3400 - 0.3440/MYR

3-month Forward Rates AUD 0.3180 - 0.3210/MYR

Interest Rate in Malaysia 4% per annum

Interest Rate in Australia 2% per annum

Question 1: Assuming you currently have MYR500,000 that can be invested for 3 months, where should the money be invested to earn higher return? Show your calculation clearly and explain your justification

Reference no: EM132557144

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