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is that arbitraging opportunity can start any of them? You have the following spot bid and ask rates between the Chinese yuan (CNY), the Canadian

image text in transcribedis that arbitraging opportunity can start any of them?

You have the following spot bid and ask rates between the Chinese yuan (CNY), the Canadian dollar (CAD), and the Swedish krona (SEK): Bid Ask SEK 7.2821/CAD SEK 7.3553/CAD SEK 1.3624/CNY SEK 1.3760/CNY CAD 0.1720/CNY CAD 0.1738/CNY Which of the following is the closest to the arbitrage profit that is possible at these rates? Select one: 6.57% 6.17% 9.86% 6.69% There is no arbitrage possible at these rates. Your answer is incorrect. The correct answer is: 6.57%

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