A New Zealand traveler returned from Singapore with SGD7,500 (Singapore dollars). A foreign exchange dealer provided the traveler with the following quotes:
| Ratio | Spot Rates |
| USD/SGD | 1.2600 |
| NZD/USD | 0.7670 |
| USD: US dollar NZD: New Zealand dollar |
|
The amount of New Zealand dollars (NZD) that the traveler would receive for his Singapore dollars is closest to:
The NZD/SGD cross-rate is NZD/USD × USD/SGD = 0.7670 × 1.2600 = 0.9664.
The traveler will receive: NZD0.9664 per SGD; NZD0.9664 × SGD7,500 = NZD7,248.