Exchange rate quotations consist solely of direct quotations.

Question

Quizplus · Accepted Answer

Exchange rate quotations can be either direct or indirect quotations. Direct quotations use the domestic currency as the variable currency and represent how much of the foreign currency can be obtained with one unit of the domestic currency. Indirect quotations use the foreign currency as the variable currency and represent how much of the domestic currency is needed to obtain one unit of the foreign currency.

Exchange Rate Quotations Consist Solely of Direct Quotations