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Indirect Quote

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Dictionary Says

Definition of 'Indirect Quote'

A foreign exchange rate quoted as the foreign currency per unit of the domestic currency. In an indirect quote, the foreign currency is a variable amount and the domestic currency is fixed at one unit.
Investopedia Says

Investopedia explains 'Indirect Quote'

For example, in the U.S., an indirect quote for the Canadian dollar would be C$1.17 = US$1. Conversely, in Canada an indirect quote for U.S. dollars would be US$0.85 = C$1.

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