A New Zealand traveler returned from Singapore with SGD 7,500 (Singapore dollars). The amount of New Zealand dollars (NZD) that the traveler would receive for his Singapore dollars
CAN SOMEONE HELP ME WITH THE QUOTE?
IT’S NZD/SGD OR SGD/NZD AND HOW?
The NZD/SGD quote tells you how many Singapore Dollars you get for 1 NZ Dollar, or how many Singapore Dollars you need to buy 1 NZ Dollar.
The SGD/NZD quote tells you how many NZ Dollars you get for 1 Singapore Dollar, or how many NZ Dollars you need to buy 1 Singapore Dollar.
SGD/NZD is about 1.22 at the moment, meaning 1 Singapore Dollar buys about 1.22 NZ Dollars
so 7,500 Singapore Dollars buys about 7,500 times 1.22 or roughly 9,200 NZ Dollars
So how will you quote 1EUR will but 1.2983 CHF
Note how the CFA quite currencies, which is different from many market conventions and other exam syllabus.
For example
NZD / SGD = 10 means 1 SGD = 10 NZD
CFA use convention
Price / Base = 23
“1” of the base currency gives you “23” of the price currency
It will cots you “23” of the price currency to buy the “1” of the base.
To the orginal question you have not told us the currency quote or how it is written.
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THANK YOU this helped!!!