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Assume the following information for a bank quoting on spot exchange rates: SUSD/SGD= USD 0.60 per SGD SUSD/GBP= USD 1.5 per GBP SSGD/GBP= SGD 2.6

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Assume the following information for a bank quoting on spot exchange rates: SUSD/SGD= USD 0.60 per SGD SUSD/GBP= USD 1.5 per GBP SSGD/GBP= SGD 2.6 over GBP Based on the information given, what is the arbitrage profit if you start the arbitrage with USD 1,000? Explicitly mention the strategy (what you are buying and selling) and the associated cash flows with the resulting arbitrage profit, if any. There are no transaction costs

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