Indirect Quote Definition | direct quote currency
WhatisanIndirectQuote?Thetermindirectquoteisacurrencyquotationintheforeignexchangemarket[1] thatexpressesthevariableamountofforeigncurrencyrequiredtobuyorsellfixedunitsofthedomesticcurrency.Anindirectquoteisalsoknownasa“quantityquotation,”sinceitexpressesthequantityofforeigncurrencyrequiredtobuyunitsofthedomesticcurrency.Inotherwords,thedomesticcurrencyisthebasecurrency[2]inanindirectquote,whiletheforeigncurrencyisthecountercurrency[3].Anindirectquoteistheoppositeorreciprocalofadirectquote[4...
What is an Indirect Quote?The term indirect quote is a currency quotation in the foreign exchange market[1] that expresses the variable amount of foreign currency required to buy or sell fixed units of the domestic currency. 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[2] in an indirect quote, while the foreign currency is the counter currency[3].
An indirect quote is the opposite or reciprocal of a direct quote[4], also known as a “price quotation,” which expresses the price of a fixed number of units of a foreign currency as compared with a variable number of units of the domestic currency.
Understan...