Question

An indirect exchange rate quotation is one in which the exchange rate is quoted: for the immediate delivery of currencies exchanged. in terms of how many units of the foreign currency can be converted into one unit of domestic currency. for the future delivery of currencies exchanged. in terms of how many units of the domestic currency can be converted into one unit of foreign currency.

Answer 1

Answer:

in terms of how many units of the foreign currency can be converted into one unit of domestic currency.

Explanation:

Direct quotation of currency exchange refers to quoting how many units of domestic currency are needed to purchase one unit of a foreign currency, e.g. you need $0.77 US to purchase 1 Canadian dollar.

Indirect quotation of currency exchange refers to quoting how many units of a foreign currency are needed to purchase one unit of your domestic currency, e.g. you need 1.30 Canadian dollars to purchase $1 US.