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How do I approach this question? You have the following spot bid and ask rates between the Chinese yuan (CNY), the British pound (GBP), and
How do I approach this question?
You have the following spot bid and ask rates between the Chinese yuan (CNY), the British pound (GBP), and the Vietnamese dong (VND): BID ASK VND 4,007.2/CNY VND 4,047.4/CNY VND 33,130/GBP VND 33,462/GBP GBP 0.1148/CNY GBP 0.1160/CNY Which of the following is the closest to the arbitrage profit that is possible at these rates? Select one: a. 3.24% b. 2.25% c. 3.13% O d. 3.59% e. There is no arbitrage possible at these rates. CheckStep by Step Solution
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