question archive You have the following quotations for the Chinese yuan (CNY) and the Australian dollar (A$) at the HSBC Bank in China and National Australia Bank in Australia
You have the following quotations for the Chinese yuan (CNY) and the Australian dollar (A$) at the HSBC Bank in China and National Australia Bank in Australia
Subject:FinancePrice:2.86 Bought8
You have the following quotations for the Chinese yuan (CNY) and the Australian dollar (A$) at the HSBC Bank in China and National Australia Bank in Australia. Can you make a locational arbitrage profit? If yes, calculate the arbitrage profit if you have A$1.30 million or CNY3.10 million. (enter the whole number without sign or symbol)
|
Currency |
HSBC in China |
National Australia Bank in Australia |
||
|
Bid |
Ask |
Bid |
Ask |
|
|
Chinese yuan |
A$0.2045 |
A$0.2224 |
A$0.2425 |
A$0.2610 |
|
Australian dollar |
CNY4.4164 |
CNY4.9823 |
CNY3.8356 |
CNY4.0462 |
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Two arbitrage available
1. Profit in Chinese yuan 62310
2. Profit in Australian dollar 481260
Please see the attached file for the complete solution
