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Following Information are available in the international market: Spot rate: $1=374.50-74.70 One year forward rate: $1=278. 20-78.60 One year INR interest rate 7.50% - 8.50%

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Following Information are available in the international market: Spot rate: $1=374.50-74.70 One year forward rate: $1=278. 20-78.60 One year INR interest rate 7.50% - 8.50% One year USD interest rate 0.25% Is there any arbitrage opportunity? compute the profit with 1 million

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