The reward will be given in the form of USD cash voucher.Does it mean the rewards is based on the USD equivalent of SGD at reference rate and the rewards is given in USD?
Meaning 200k sgd.( this is not converted)
USD equivalent = 200ksgd×0.7297= 145940 USD
3%×145940usd = 4378.2usd.
Rewards given is 4378.2 USD.
What rate will be used to change this 4378.2usd to sgd ? The spot rate or reference rate