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Calculate the possible geographic arbitrage gain

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Reference no: EM132898192

Question - A corporate treasury with operation in New York simultaneously calls Citibank in New York and Barclays in London, where it receives the following spot bid and ask quotes:

Citibank NYC. Barclays London

USD1.3650-70/EUR USD1.3649-60/EUR

Using USD1million or its EUR equivalent and ignoring transaction costs, calculate the possible geographic arbitrage gain for the corporate treasury given CItibank's and Barclays' exchange rate quotes.

Reference no: EM132898192

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