You observe a quotation of the Japanese yen (¥) of $0.007. You are, however, interested in the number of yen per dollar. Thus, you calculate the ____ quotation of ____ ¥/$.

Question

You observe a quotation of the Japanese yen (¥) of $0.007. You are, however, interested in the number of yen per dollar. Thus, you calculate the ____ quotation of ____ ¥/$.​

Quizplus · Accepted Answer

The indirect quotation is the foreign currency price of one unit of the home currency. Given the direct quotation of $0.007 per yen, to find the indirect quotation, you divide 1 by 0.007, which equals approximately 142.86 yen per dollar.

You Observe a Quotation of the Japanese Yen (¥) of $0.007