Explain the steps that would reflect triangular arbitrage

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Reference no: EM131325274

Assume the following information for a particular bank:

	Quoted	Price
Value of Batavian drac (BTD) in US dollars	USD	0.9
Value of Ulerican crown (ULC) in US dollars	USD	0.3
Value of Batavian drac in Ulerican crown	ULC	3.02

Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and calculate the profit from this strategy if you had $1,000,000 to use.

Reference no: EM131325274

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