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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.
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. (enter the two decimal number without sing or symbol).
Exchange rates
Value of a Chinese yuan (CNY) in Australian dollars (A$)
bid price A$0.2039
ask price A$0.2271
Value of a Malaysian ringgit (MYR) in Australian dollars (A$)
bid price A$0.3031
ask price A$0.3232
Value of a Malaysian ringgit (MYR) in Chinese yuan (CNY)
bid price CNY1.7743
ask price CNY1.9124
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