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Travelex Australia provides the following three exchange rates. You assume that there is a triangular arbitrage profit opportunity exists based on the following three quotations.

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Travelex Australia provides the following three exchange rates. You assume that there is a triangular arbitrage profit opportunity exists based on the following three quotations. Calculate the arbitrage profit in percentage.

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Exchange rates bid price ask price Value of a Chinese yuan (CNY) in Australian dollars (A$) A$0.2061 A$0.2246 Value of a Malaysian ringgit (MYR) in Australian dollars (A$) A$0.3035 A$0.3269 Value of a Malaysian ringgit (MYR) in Chinese yuan (CNY) CNY1.7066 CNY1.9274

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