Indirect Quote: An exchange rate given in terms of the number of units of foreign currency for one unit of the domestic...
Indirect Quote: An exchange rate given in terms of the number of units of foreign currency for one unit of the domestic currency.
Question: In other words, from a US context, how many units of Japanese yen (foreign currency) will my one US dollar (domestic currency) buy on November 5, 2019? (Cite your source)
Homework Answers
Exchange rates on November 05, 2019, 109.18 Japanese Yen per US Dollar, from US context, 1 US$ will buy 109.18 Japanese Yen.
It is a direct quote in US, indirect quote is denoted as 1yen = 0.0091US$ from Japan context.
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