Raza observed the following exchange information

regarding the SINGAPORE DOLLAR $($SGD$)$ andTanzania

Shillings $($TSHS$)$ in $2022.$ The exchange information was

displayed by two different banks at around $13\mathrm{.}00$ hrs in the

afternoon inTanzanian touristic city of Arusha.

$$ WBL $-$ Bank: Spot rateTSHS$/$SGD $1750-1780$

$$ NBL $-$ Bank TSHS$/$SGD $1850-1905$

Required:

i$.$ Define geographical arbitrage

ii$.$ Determine the opportunity for bilateral profit.

iii. If your answer in $($ii$)$ above is affirmative and given that

Raza can transact up to SGD $2,000,000$; illustrate how

Raza the arbitrageur can benefit from the above

information.