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The South African Rand is trading 1 9 . 1 2 1 9 . 3 1 Rand / $ . The UK pound is trading

The South African Rand is trading 19.1219.31 Rand/$. The UK pound is trading at 1.2703-
1.2712 $/pound. What range of pound/Rand rates imply no opportunity for arbitrage? Make
sure to go out to 5 decimal places in your answer.

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