Asked by Yasmin Gallegos on May 21, 2024
Verified
The direct quote states the price of a unit of foreign currency in US dollars.
Direct Quote
A currency exchange rate quoted as the domestic currency per unit of the foreign currency.
- Acquire knowledge on the primary aspects of currency conversion and the quotation of exchange rates.
Verified Answer
LS
Lizbeth San5232May 25, 2024
Final Answer :
True
Explanation :
A direct quote expresses the value of a foreign currency in terms of the domestic currency. In other words, it states how many units of the foreign currency can be purchased with one unit of the domestic currency.
Learning Objectives
- Acquire knowledge on the primary aspects of currency conversion and the quotation of exchange rates.