If the rate on the London exchange was $1 = .66562 Euro and the rate on the Tokyo exchange was $1 = .66564, a trader could make money using a process called ___________?

If you were a citizen of Columbia and the government would not allow you or citizens of other countries to change Pesos into U.S. dollars your currency is called _____________? If you were a citizen of Columbia and the government would not allow you or citizens of other countries to change Pesos into U.S. dollars your currency is called _____________?