Direct Quote Definition | direct quote currency
WhatisaDirectQuoteAdirectquote isaforeignexchange[1]rateinvolving aquoteinfixedunitsofforeigncurrencyagainstvariableamountsofthedomesticcurrency[2].AsofFebruary2018,adirectquoteoftheU.S.dollaragainsttheCanadiandollarintheUnitedStateswasU.S.$0.79394 =C$1whileinCanada,adirectquoteforwouldbeC$1.25953=U.S.$1.BasicsofDirectQuoteTheconceptofdirectquotesversusindirectquotes[3]dependsonthelocationofthespeaker,asthatdetermineswhichcurrencyinthepairisdomesticandwhichisforeign.Non-businesspublicationsa...
What is a Direct QuoteA direct quote is a foreign exchange[1] rate involving a quote in fixed units of foreign currency against variable amounts of the domestic currency[2]. As of February 2018, a direct quote of the U.S. dollar against the Canadian dollar in the United States was U.S. $0.79394 = C $1 while in Canada, a direct quote for would be C $1.25953 = U.S. $1.
Basics of Direct QuoteThe concept of direct quotes versus indirect quotes[3] depends on the location of the speaker, as that determines which currency in the pair is domestic and which is foreign. Non-business publications and other media usually quote foreign exchange rates in direct terms for the ease of consumers. However, the foreign exchange market has quoting conventions that transcend local borders.
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