At current exchange rates it takes 1.3955 Canadian dollars to buy one euro (EUR) ,and 0.3188 Canadian dollars to buy one Malaysian ringgit (MYR) .What must the euro/ringgit exchange rate be in order to eliminate arbitrage opportunities?
A) 0.2284 EUR/MYR
B) 0.4449 EUR/MYR
C) 4.3774 EUR/MYR
D) 2.2478 EUR/MYR
E) 0.1639 EUR/MYR
Correct Answer:
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