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You have the following quotations for the Chinese yuan (CNY) and the Australian dollar (A$) at the HSBC Bank in China and National Australia Bank
You have the following quotations for the Chinese yuan (CNY) and the Australian dollar (A$) at the HSBC Bank in China and National Australia Bank in Australia. Can you make a locational arbitrage profit? If yes, calculate the arbitrage profit if you have A$1.52 million or CNY3.60 million. (enter the whole number without sign or symbol)
Currency | HSBC in China | National Australia Bank in Australia | ||
Bid | Ask | Bid | Ask | |
Chinese yuan | A$0.2014 | A$0.2201 | A$0.2446 | A$0.2628 |
Australian dollar | CNY4.3840 | CNY4.8602 | CNY3.8024 | CNY4.0750 |
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