Country Eurozone United States

Currency euro dollars

Symbol $$ $

Code EUR USD

Currency to equal $1$ Dollar $0\mathrm{.}84241\mathrm{.}000$

Currency to equal $1$ Euro $1\mathrm{.}0001\mathrm{.}1867$

Currency to equal $1$ Pound $1\mathrm{.}16451\mathrm{.}3824$

$1.$ Consider the following quotes in the spot market:

$$ Bank A $ per $$ $$1\mathrm{.}60/$

$$ Bank B $ per $$ $$2\mathrm{.}34/$

$$ Bank C $$ per $2\mathrm{.}27/$

$$ Is there an arbitrage opportunity?

$$ If so$,$ how would you take advantage of the arbitrage opportunity? Assume you start with $$1$ million.