The currency equivalent of the banks short term funds in a, Financial Management

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The currency equivalent of the banks short term funds in a

Heidi Jensen, a foreign exchange trader at JP Morgan Chase, can invest $5M or the currency equivalent of the banks short term funds in a covered interest arbitrage with Denmark. using the following quotes, can Heidi make a CIA profit?

Arbitrage fund available: $5M

Spot Exchange rate (KR/$): 6.1720

3 Month forward rate (KR/$): 6.1980

U.S. Dollar 3 month interest rate: 3.00%

Danish Kroner 3 month interest rate: 5.00%

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Financial Management: The currency equivalent of the banks short term funds in a

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Financial Management: The currency equivalent of the banks short term funds in a

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