16-5. (Exchange rate arbitrage) You own $10,000. The dollarspot rate in Tokyo is 216.6743. The yen rate in New York is given in the preceding table. Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars? COUNTRY CONTRACT FOREIGN CURRENCY Canada---dollar 0.8437 0.8417 0.8395 Spot 30-day 90-day Spot 30-day 90 day Japan-yen 0.004684 0.004717 0.004781 Switzerland-franc 0.5139 Spot 30-day 90-day 0.5169 0.5315 16-5. (Exchange rate arbitrage) You own $10,000. The dollarspot rate in Tokyo is 216.6743. The yen rate in New York is given in the preceding table. Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars? COUNTRY CONTRACT FOREIGN CURRENCY Canada---dollar 0.8437 0.8417 0.8395 Spot 30-day 90-day Spot 30-day 90 day Japan-yen 0.004684 0.004717 0.004781 Switzerland-franc 0.5139 Spot 30-day 90-day 0.5169 0.5315