BF2207 Question 3 DBS Bank in Singapore and Malayan Banking Berhad (MBB) in Malaysia give quotes for Malaysian ringgit (MYR), Singapore dollar (SGD) and Thai baht (THB) as follow: In Singapore at DBS: Spot exchange rate for MYR Spot exchange rate for THB In Malaysia at MBB: Spot exchange rate for SGD Spot exchange rate for THB Bid 0.320 SGD 0.039 SGD Bid 3.147 MYR 0.125 MYR Ask 0.325 SGD 0.042 SGD Ask 3.159 MYR 0.133 MYR Assume that you have 10,000 SGD. Is there an arbitrage opportunity? If so, explain clearly the order of the transactions that you would execute, and the SGD profit that you would earn, accurate to the nearest cent. If you cannot earn a profit from arbitrage, explain why (22 marks)