450,000 iPhones and cost about $242,000 to charter, with fuel
accounting for more than half the expense. 54 cents or around 2 riyals
44,700 gallons or 170,000 liters
$4.27 x 3.75
Implied Exchange Rate 15 to 4.37 = 3.51 to 1
Buy Big Macs in Saudi for 15($4.00) and
resell in the U.S. for 16 ($4.27) and make
Currency is undervalued by 8 percent
Quiz: Name and ID
1.What is Arbitrage?
2. Does Saudi Arabia have a trade surplus or trade
3.What is the ofﬁcial exchange rate between riyals and
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