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Inspired by his recent trip to the Great Pyramids, Citibank trader Ruminder Dhillon wonders if he can make an intermarket arbitrage profit using Libyan dinars
Inspired by his recent trip to the Great Pyramids, Citibank trader Ruminder Dhillon wonders if he can make an intermarket arbitrage profit using Libyan dinars and Saudi riyals. He has $ to work with, so he gathers the following quotes:
Citibank quotes US dollar per Libyan dinar: $ per LYD
National Bank of Kuwait quotes Saudi riyal per Libyan dinar: SAR per LYD
Barclay quotes US dollar per Saudi riyal: $ per SAR
Show how he can make an arbitrage profit. What is his profit?
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