I was able to calculate (a) but I am having trouble with the calculations of (b)....

I was able to calculate (a) but I am having trouble with the calculations of (b). Thanks!

The following are New York closing rates for A$/US$ and $/£:

A$/$ = 1.5150; $/£ = $1.2950

(a) Calculate the cross rate for £ in terms of A$ (A$/£).

(b) If £ is trading at A$1.95/£ in London (cross market) on the same day, is there an arbitrage opportunity? If so, show how arbitrageurs with £ could profit from this opportunity and calculate the arbitrage profits in £ and in percent.

Expert Solution

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

I HAVE ASSUMED THAT PERSON HAS 1000 POUND. NEED TO TAKE ANY OTHER FIGURE, LET ME KNOW.

jeff jeffy answered 1 year ago

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