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European quotes of Euro are Eur0.86/US$ in Paris and Eur0.97/US$ in NYC. In which location is the Euro cheap, and in which location is the Euro

European quotes of Euro are Eur0.86/US$ in Paris and Eur0.97/US$ in NYC. In which location is the Euro cheap, and in which location is the Euro expensive? How much of an arbitrage profit you can make, if you have $1,000 to invest?

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European quotes of Euro are Eur0.86/US$ in Paris and Eur0.97/US$ in NYC. In which location is the Euro cheap, and in which... View the full answer

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The Euro is cheaper in NYC because in NYC, more euros are required to be able to buy a dollar... View the full answer

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