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Aggrawal Jai is working as a foreign exchange trader at Black Rock in US. He can invest $6.5 million, or the foreign currency equivalent of

Aggrawal Jai is working as a foreign exchange trader at Black Rock in US. He can invest $6.5 million, or the foreign currency equivalent of the bank's short-term funds, in a covered interest arbitrage with Denmark. Assuming the spot exchange rate is KR6.1720/$ and 1-year forward rate is KR6.1980/$. And the 1-year interest rate for US Dollar is at 3.12%, while the 1-year interest rate for Danish Kroner is at 5.55%. Is there any arbitrage profit opportunity for Aggrawal Jai?

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