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European Currency Quotation

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Definition of 'European Currency Quotation'

An indirect quotation in the foreign exchange markets whereby the value of a foreign currency is stated as a per-unit measure of the U.S. dollar. This type of quotation shows how much foreign currency it takes to purchase one U.S. dollar.
Investopedia Says

Investopedia explains 'European Currency Quotation'

For example, a European currency quote would be C$1.24 per US$1. This explains that it will take 1.24 Canadian dollars to purchase a single unit of U.S. currency. If you wanted to purchase US$1,000 it would cost C$1,240.

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