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Anne Dietz lives in Singapore, but is making her first business trip to Sydney, Australia. Standing in Singapore's new terminal #3 at Changi Airport, she
Anne Dietz lives in Singapore, but is making her first business trip to Sydney, Australia. Standing in Singapore's new terminal #3 at Changi Airport, she looks at the foreign exchange quotes posted over the FX trader's booth. She wishes to exchange 1,200 Singapore dollars (S$ or SGD) for Australian dollars (A$ or AUD). What Anne sees: Spot rate = SGD 1.3367/ USD Spot rate = USD 0.7643/ AUD a. What is the Singapore dollar to Australian dollar cross rate? b. How many Australian dollars will Anne get for her Singapore dollars? PLEASE SHOW ALL YOUR CALCULATIONS
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