In the _____ approach, foreign exchange rates are expressed in terms of the number of currency units that can be exchanged for a U.S.dollar.
A)bid
B)ask
C)indirect quote
D)direct quote
E)spot rate

Question

Quizplus · Accepted Answer

In the indirect quote approach, foreign exchange rates are expressed as the amount of foreign currency needed to purchase one U.S. dollar.

In the _____ Approach, Foreign Exchange Rates Are Expressed in Terms