Question
The Singapore dollarU.S. dollar (S$/$) spot exchange rate is S$1.60/$, the Canadian dollarU.S. dollar (CD/$) spot rate is CD1.33/$ and the S$/CD1.15. Determine the triangular
The Singapore dollarU.S. dollar (S$/$) spot exchange rate is S$1.60/$, the Canadian dollarU.S. dollar (CD/$) spot rate is CD1.33/$ and the S$/CD1.15. Determine the triangular arbitrage profit that is possible if you have $1,000,000. A. $44,063 profit B. $46,093 loss C. No profit is possible D. $46,093 profit. answer says D. however, I got a different answer. Please show work
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
3rd Edition
007337590X, 9780073375908
