Alex has ksh12 million to invest for three months. The current spot rate of the Tsh...

Alex has ksh12 million to invest for three months. The current spot rate of the Tsh is ksh0.062. The three months forward rate of the Tsh is Ksh0.064. The interest rate in Kenya is 18%per annum while in Tanzania is 28%per annum. Required Calculate the gain fromcovered interest arbitrage. .

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