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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 | bid price | ask price |
Value of a Chinese yuan (CNY) in Australian dollars (A$) | A$0.2004 | A$0.2286 |
Value of a Malaysian ringgit (MYR) in Australian dollars (A$) | A$0.3021 | A$0.3300 |
Value of a Malaysian ringgit (MYR) in Chinese yuan (CNY) | CNY1.7231 | CNY1.9556 |
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