ST Tech (Singapore) is importing AUD 315,400 worth of IT accessories from UA Technology (Australia). a)...
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ST Tech (Singapore) is importing AUD 315,400 worth of IT accessories from UA Technology (Australia). a) Calculate the bid-offer cross rates for AUD/SGD using the FX quotes below. FX Quotes: USD/AUD 1.4698 1.4702 USD/SGD 1.3720 1.3724 b) Using the relevant cross rate from a), determine the equivalent amount in SGD (show to 2 decimal places) paid by ST Tech. c) UA Technology does not mind a slower payment and so does not require a telegraphic transfer of funds. UA wants a bank draft (in AUD) from ST Tech and is not willing to accept ST Tech's company cheque (in SGD). Explain the rationale behind UA Technology's thinking? ST Tech (Singapore) is importing AUD 315,400 worth of IT accessories from UA Technology (Australia). a) Calculate the bid-offer cross rates for AUD/SGD using the FX quotes below. FX Quotes: USD/AUD 1.4698 1.4702 USD/SGD 1.3720 1.3724 b) Using the relevant cross rate from a), determine the equivalent amount in SGD (show to 2 decimal places) paid by ST Tech. c) UA Technology does not mind a slower payment and so does not require a telegraphic transfer of funds. UA wants a bank draft (in AUD) from ST Tech and is not willing to accept ST Tech's company cheque (in SGD). Explain the rationale behind UA Technology's thinking?
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