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The following spot rates are provided to you: Al James Bank: 0.9331 CAD/$ HSBC: 1.2616 $/ EURO Citibank: 0.8699 EURO/ CAD Using the above rates,

The following spot rates are provided to you:

Al James Bank: 0.9331 CAD/$

HSBC: 1.2616 $/ EURO

Citibank: 0.8699 EURO/ CAD

Using the above rates, demonstrate how a triangular arbitrage can be profitable, assuming you have $750,000. Show your workings.

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