Casper landsten is a foreign exchange trader for a bank in, Finance Basics

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Casper landsten is a foreign exchange trader for a bank in

Question: Casper Landsten is a foreign exchange trader for a bank in New York. He has $1.05 million (or its Swiss franc equivalent) for a short term money market investment and wonders if he should invest in U.S dollars for three months, or make a CIA investment in the Swiss franc. He faces the following quotes:

Arbitrage funds available $1,050,000

Spot exchange rate (SFr/$) 1.2811

3-month forward rate (SFr/$) 1.2743

U.S Dollar annual interest rate 4.803%

Swiss franc annual interest rate 3.201%

What is the CIA profit potential in %?

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