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Foreign Exchange Quotes Are Often Confusing

Question 61

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Foreign exchange quotes are often confusing. Define these terms and then identify the types of quotes that follow. Direct quote, indirect quote, American terms, European terms.
EUR0.686 = USD1, this quote found in Frankfurt, Germany
USD1.4577 = EUR1.0, this quote found in San Francisco, California

Correct Answer:

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Think of direct quotes as "per dollar" i...

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