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Assume that S(ILS/INR) = 0.0449 and that F(ILS/INR) = 0.0415 (ILS = Israeli New Shekel; INR = Indian Rupee). The interest rate in India is

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Assume that S(ILS/INR) = 0.0449 and that F(ILS/INR) = 0.0415 (ILS = Israeli New Shekel; INR = Indian Rupee). The interest rate in India is 4.71%, while the interest rate in Israel is 0.10%. Also assume that you can invest either INR 1 million or ILS 10 million. Show the arbitrage profit

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