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Posted on Jun 24, 2024

Assume that a bank's bid rate on Singapore dollar (SGD) is $0.76 and its ask rate is $0.79. This implies that A. you can sell

Assume that a bank's bid rate on Singapore dollar (SGD) is $0.76 and its ask rate is $0.79. This implies that

A.you can sell 1 USD at SGD $1.268

B.you can buy 1 SGD at $0.76

C.you can sell 1 SGD at $0.79

D.you can buy 1 USD at SGD $1.316

The answer is D. Could you please explain why D is the answer, instead of A? And please briefly show workings.

Thanks

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