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Initial capital to take advantage of the price differentials

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A money changer in New York offers the bid-ask rate for a Singapore dollar for USD1.4264-1.5257. If there is a bank in California buys and sells a Singapore dollar for USD1.2788 and USD1.3787, what will your arbitrage profit be if you use USD290,000 as the initial capital to take advantage of the price differentials?

Reference no: EM132622747

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