The exchange rate that represents the number of units of a home currency that is required to purchase one unit of a foreign currency is referred to as a(n) ________ quote.

Question

Quizplus · Accepted Answer

A direct quote in the context of foreign exchange is the amount of local currency needed to buy one unit of foreign currency. This is the most common way exchange rates are quoted in most countries.

The Exchange Rate That Represents the Number of Units of a Home