Foreign Exchange Quotation:
A foreign Exchange quotation (or quote) is a statement of willingness to buy or sell at an announced rate.
01. European Quote: The foreign currency price of one dollar
Example: BDT 75.2525/$, read as BDT 75.2525 per dollar
02. American Quote: The dollar price of a unit of foreign currency
Example: $0.0133/BDT, read as 0.0133 dollars per BDT
03. Direct Quote: A foreign exchange rate quoted as the domestic currency per unit of the foreign currency.
Direct quotation: 1 unit of foreign currency = x Number of home currency
Example: $1 = Tk81.7535 is a direct quote in Bangladesh
04. 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.
Indirect quotation: 1 unit of home currency = x Number of foreign currency units
For example: Tk 1 = $ 0.0123 is an indirect quote in Bangladesh,