indirect quote

Definition

A foreign exchange rate of a foreign currency per unit of the domestic currency. In terms of U.S. dollars, an indirect quote is the number of U.S. dollars that one unit of a foreign currency could buy. For example, an indirect quote for the Japanese Yen could be 110 Yen = US $1. opposite of direct quote.

Use indirect quote in a sentence

You need to make sure that you are getting the best price you can any time you are dealing with an indirect quote.

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The Japanese snack importer had to locate an indirect quote to convert the yen to the u.s dollar in order to correctly mange purchasing and distributing operations.

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The indirect quote I got from xe.com this morning told me that for every 1.12 I convert from dollars I can get 1 Euro, making this a much more cost effective time to travel then ten years ago.

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indirect material indirect rollover