If the exchange rate quotes in two different countries were out of line with each other,an enterprising trader could make a profit by buying in the market where the currency was cheaper and simultaneously selling it in the market where the currency was more expensive.Such a person would be known as a

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An arbitrageur is a trader who takes advantage of price differences in different markets to make a profit. In this case, the trader would buy currency in the market where it is cheaper and sell it in the market where it is more expensive, making a profit from the difference in exchange rates.

If the Exchange Rate Quotes in Two Different Countries Were