Question $32(2$ points$)$

$$ soved

Peter bought the Euro in London at an exchange rate of $0\mathrm{.}65$ Euros per U$.$S Dollar and sold it in South Africa at an exchange rate of $0\mathrm{.}60$ Euros per Dollar. Most likely Peter is

Speculating

Arbitraging

Both speculating and arbitraging

None of the above is correct