A quotation representing the value of the dollar in terms of foreign currency is a(n) ____ quotation; a quotation representing the number of units of a foreign currency per dollar is referred to as a(n) ____ quotation
Foreign exchange quotations, relative prices or rates quoted among players in foreign exchange markets.
There are 3 types of foreign currency quotations :
Direct quote: Direct quote is the unit price of a country quoted in reference to the country's currency.
Indirect quotation: Indirect quotation is the reverse of direct quotation. This is the unit price of a country's currency known as foreign exchange terms.
Cross-Rates: Although the banks deal with non-bank customers in the convertible currency for the French Franc / Italian lira, the Sterling / Spanish Fiesta, the Swiss franc / French franc and so on, the interbank market is usually in US quotes against the dollar.
