Two currency dealers gave me the following rates. Dealer A: 0.80 pounds/euro 1.50 dollars/pound Dealer B: 0.85 euro/doll
Posted: Mon Apr 25, 2022 8:57 am
Two currency dealers gave me the following rates.
Dealer A: 0.80 pounds/euro
1.50 dollars/pound
Dealer B: 0.85 euro/dollar
I can borrow up to 5 million British pounds. If I borrow the full
amount (5 million
pounds) and first convert them into euro, then convert my euros
into dollar, and then
finally convert my dollars back into pounds, will I make money
Dealer A: 0.80 pounds/euro
1.50 dollars/pound
Dealer B: 0.85 euro/dollar
I can borrow up to 5 million British pounds. If I borrow the full
amount (5 million
pounds) and first convert them into euro, then convert my euros
into dollar, and then
finally convert my dollars back into pounds, will I make money