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Hypothetical investment amount of aud one million

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Assuming no transaction costs, suppose Bank of Tokyo quotes AUD1 = ¥80, Suisse Bank quotes CHF1 = ¥97 and ANZ quotes AUD1 = CHF1.15. How could you take profitable advantage of these rates using a hypothetical investment amount of AUD one million? (hint: AUD = Australian dollar; ¥ = Japanese yen; CHF = Swiss Franc; you can buy or sell AUD at the stated rates).

Reference no: EM133071816

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