Use the following information about the spot exchange rates to answer the questions 18 - 20.
Suppose that the spot exchange rates for British pound quoted in two locations are:
-Suppose that you have £1 million,how much arbitrage profit can you make?
A) £-30,674.85
B) £12,658.23
C) £31,627.64
D) £51,612.90
Correct Answer:
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U.S.dollar
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