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hello can someone tell me how this calculatipn is done? Triangular arbitrage (demo version) Quoted rates Citibank quotes US dollars per euro Barclays Bank quotes

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hello can someone tell me how this calculatipn is done?

Triangular arbitrage (demo version) Quoted rates Citibank quotes US dollars per euro Barclays Bank quotes U.S. dollars per pound sterling Dresdner Bank quotes euros per pound sterling USD1.3297 = 1 EUR USD1.5585 = 1 GBP EUR1.1722 = 1 GBP Cross rate based on Citibank and Barclays Bank quotes: GBP/USD 1.5585 EUR/USD 1.1722 = GBP/EUR 1.1721 This is .0001 less than the Dresdner Bank quote, which results in triangular arbitrage

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