The value of a foreign currency, such as the British pound, stated in American dollars is the:

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A direct quote is when the value of a foreign currency is stated in terms of the domestic currency. Therefore, the value of the British pound stated in American dollars would be a direct quote. The indirect rate is when the value of the domestic currency is stated in terms of the foreign currency. The forward rate refers to a future exchange rate that has been agreed upon for a transaction taking place at a later date. The forward spot rate is a combination of the forward rate and the current spot rate.

The Value of a Foreign Currency, Such as the British