An indirect quotation given in Sydney would involve foreign currencies being expressed in terms of the value of 1 Australian dollar.

Name: An indirect quotation given in Sydney would involve foreign currencies being expressed in terms of the value of 1 Australian dollar.
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Question

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In Australia,foreign currencies are quoted relative to one Australian dollar.This method of quotation is known as 'indirect' quotation because the numeraire is the foreign currency.

An Indirect Quotation Given in Sydney Would Involve Foreign Currencies