Australia is different to most other foreign markets in that it uses the direct method of quotation.

Question

Quizplus · Accepted Answer

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.In contrast,most other currencies are quoted in overseas markets relative to the foreign currency.This method of quotation is known as 'direct' quotation.The 'direct' quotation can be arrived at by simply inverting the 'indirect' quotation.

Australia Is Different to Most Other Foreign Markets in That