Describe the arbitrage opportunity available to investors

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The Malaysian Ringgit is quoted by Hani Bank in Kuala Lumpur at $0.3510 Bid and $0.3150 Ask. At the same time, Ori Bank in Singapore is quoting $0.3170/$.3180. Under this scenario:

A. Describe the arbitrage opportunity available to investors?

B. What would be the profit if an investor had $1 Million to invest, ignoring trading costs?

Reference no: EM131948635

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