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Assume the following information: B Bank Y Bank Bid price of New Zealand dollar $0
Assume the following information:
B Bank Y Bank
Bid price of New Zealand dollar $0.402 $0.398
Ask price of New Zealand dollar $0.403 $0.400
Compute the profit from locational arbitrage, if possible, assume you had $1,000,000. Show steps. What market forces would occur to eliminate any further possibilities of locational arbitrage?
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