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[Cross Currency Arbitrage] According to the data below calculate the cross currency arbitrage opportunity. What is the minimum FWD exchange rate which would offer an

[Cross Currency Arbitrage] According to the data below calculate the cross currency arbitrage opportunity. What is the minimum FWD exchange rate which would offer an arbitrage gain?

On February 9, 2021

USD/TRY 7.0852 7.0878

FWD USD/TRY 1221 8.1500 8.1600 (settlement on December 31st )

Interest rate for TRY 17.2500 18.1116

Interest rate for USD 0.30628 0.30648

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