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You currently have South African rands R 1 7 5 , 0 0 0 in savings. The R spot exchange rate in New York is

You currently have South African rands R175,000 in savings. The R spot exchange rate in New York is US$0.0114 while the US$ rate in South Africa is R$87.2753. Are arbitrage profits possible? If so, set up an arbitrage scheme and indicate your gain in South African rands.

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