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This problem is worth 10 points Assume the bid rate of a Singapore dollar is US$.70 while the ask rate is US$.71 at Bank X
This problem is worth 10 points Assume the bid rate of a Singapore dollar is US$.70 while the ask rate is US$.71 at Bank X and that the bid rate of a Singapore dollar is US$.72 while the ask rate is US$.725 at Bank Z. Given this information, is arbitrage possible? If so, what is the arbitrage US$ profit per S$
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