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HKSI PrepStudyingPaper 1
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USD/HKD is 7.8200 and USD/JPY is 150.00 (mid-rates). What is the cross rate expressed as Japanese yen per Hong Kong dollar?
Both rates have the US dollar as base, so the cross rate is found by dividing one by the other. Yen per US dollar divided by Hong Kong dollars per US dollar gives yen per Hong Kong dollar: 150.00 / 7.8200 = 19.1816. Dividing the other way, 7.8200 / 150.00 = 0.0521, gives Hong Kong dollars per yen, the inverse of what was asked. Multiplying the rates (1,173.00) is the method for chaining a rate with the US dollar as terms currency to one with it as base, which is not the case here. 19.2308 uses the linked rate of 7.80 instead of the market rate given. Source: Standard cross-rate calculation (common base currency: divide) (as at October 2026).
Multiplying when the US dollar is the base currency in both pairs. A common base currency means divide.
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