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You are the Financial Manager of the Trading Division of Eager Foreign Exchange Division. Your Latin American Division in Houston is providing you the following

You are the Financial Manager of the Trading Division of Eager Foreign Exchange Division. Your Latin American Division in Houston is providing you the following quotations: (You may either buy or sell at the stated rates). Bank of New York: Peso 10.00/$ Bank of Cancun: Sol 0.33/ Peso Bank of Lima: $0.33/ Sol Assume you have an initial wealth of $1,000,000 U.S. dollars in U.S.A. Is Triangular Arbitrage Possible with Latin American Currencies? If so, compute Eagers profits?

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