Suppose the euro is quoted at 0.7064-80 in London, and the pound sterling is quoted at 1.6244-59 in Frankfurt.
Is at hand a profitable arbitrage situation?
Answers:
Topically, yes. But what are the fees for the exchange?
1/.7064 yeilds 1.41 which is lower than the 1.62. Thus buy surrounded by the cheaper currency, and deal in the more expensive, and you win risk free return (i.e. arbitrage). The "rub" is that at hand's gonna be some duty for the exchange so you might not fashion out when you factor within fees.
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Answers:
Topically, yes. But what are the fees for the exchange?
1/.7064 yeilds 1.41 which is lower than the 1.62. Thus buy surrounded by the cheaper currency, and deal in the more expensive, and you win risk free return (i.e. arbitrage). The "rub" is that at hand's gonna be some duty for the exchange so you might not fashion out when you factor within fees.