Question

Home currency quotation and foreign currency quotation

Answer 1

Answer:

Explanation:

A direct quote is a currency quote for a foreign currency in per unit terms of a domestic currency. Because it is the most traded currency in the world, the U.S. dollar generally serves as the base currency in most direct quotes. The major exceptions to this rule are the British Pound and the Euro.

Answer 2

An indirect quote is also known as a “quantity quotation,” since it expresses the quantity of foreign currency required to buy units of the domestic currency. In other words, the domestic currency is the base currency in an indirect quote, while the foreign currency is the counter currency.