What is a Direct Quote?

Direct quotation is a way of expressing the amount of domestic currency that can be exchanged per unit of foreign exchange on the international foreign exchange market. Most countries in the world, including China, use direct quotes. This pricing method uses foreign currencies as the calculation standard. Generally, how many national currencies can be converted into one unit or 100 units of foreign currency, and what is the exchange rate of the domestic currency. [1]

Direct quote

Right!
Direct quotation is a way of expressing the amount of domestic currency that can be exchanged per unit of foreign exchange on the international foreign exchange market. Most countries in the world, including China, use direct quotes. This pricing method uses foreign currencies as the calculation standard. Generally, how many national currencies can be converted into one unit or 100 units of foreign currency, and what is the exchange rate of the domestic currency. [1]
Chinese name
Direct quote
Field
economic
Nature
ratio
Classification
Indirect quote
The exchange rate is the ratio between the currencies of the two countries. To calculate this ratio, you must first determine which national currency is used as the calculation standard. At present, there are two ways of quoting on the international currency market: direct quotations and indirect quotations.
Except for the United Kingdom, the United States, Australia, and New Zealand, most countries in the world, including China, use the direct price method to express exchange rates. This pricing method uses foreign currencies as the calculation standard. Generally, how many national currencies can be converted into one unit or 100 units of foreign currency, and what is the exchange rate of the domestic currency.
Direct Quote vs. Indirect Quote
Direct Quote: the price of one unit of the foreign currency in domestic currency terms
Indirect Quote: the price of one unit of the domestic currency in foreign currency terms.

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