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Citibank quotes US dollars per pound at $1.54 per , NatWest bank quotes euro per pound at 1.60per , Deutsche bank quotes US dollars per

Citibank quotes US dollars per pound at $1.54 per £, NatWest bank quotes euro per pound at €1.60per £, Deutsche bank quotes US dollars per euro at $0.97 per €.

What is the potential currency arbitrage profit of a trader at Citibank with $1,000,000? Show your calculations.

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