a)Critically discuss the concepts of Triangular Arbitrage and Covered Interest Arbitrage with relevant examples. (40%)
b)Using the numerical software package as explained in the online lectures and using any exchange-rate data on the Internet (daily, weekly, monthly or yearly) produce a report examining how triangular arbitrage would apply and compute the profit from this strategy if you had $1,000,000 to use.You are required to illustrate your finding with step-by-step explanation and put your data in an appendix. (60%)
