Exchange rate: Riskless Profit

CFA Level I Quant
#1

Hi guys, I found this old question but not sure exactly how the Riskless profit arises.

The NZ dollar to US dollar exchange rate is 1.36, and the British pound to US dollar exchange rate is 0.62. If you find that the British pound to NZ dollar exchange rate is 0.49, what would you do to earn a Riskless profit?

#2

Invert NZD/USD, then cross rate to get GBP/NZD. Should be around 0.46. Cover the difference.

#3

I did it like this:

1 USD is converted to 1.36 NZD

then convert 1.36 NZD to 0.6664 GBP

then convert 0.6664 GBP to 1.0748 USD

riskless profit of .0748 USD is that correct?