Exhibit 1 Interbank and Dealer Currency Quotes Currency Pair Bid (spot) Offer (spot) Projected Spot Rate in One Year Interbank Market: EUR/USD 0.8045 0.8065 0.8200 SGD/USD 1.2050 1.2100 1.2280 Singaporean Dealer: SGD/EUR 1.5140 1.5190 N.A. Based on the exchange rate quotes in Exhibit 1, an opportunistic European hedge fund interested in triangular arbitrage between the dealer and interbank markets is most likely to: O A. discover that no triangular arbitrage opportunity exists. O B. buy EUR from the Singaporean dealer and sell EUR in the interbank market. C. buy EUR in the interbank market and sell EUR to the Singaporean dealer