Since in the U.S. the home currency is the dollar and the foreign currency is the euro, in New York USD 1.2174 = EUR 1.00 would be a direct quote on the euro and an indirect quote on the dollar.

Question

Quizplus · Accepted Answer

A direct quote on a currency is when the domestic currency is the variable one and an indirect quote on a currency is when the foreign currency is the variable one. In this case, USD 1.2174 = EUR 1.00 is a direct quote on the euro and an indirect quote on the dollar.