Economics · Foreign Exchange Market
Arrange the following logical components in the correct sequence to represent the standard formulation of a 'Direct Quote' in the foreign exchange market: 1. Selection of a single unit of foreign currency to serve as the fixed base. 2. Measurement of the variable amount of domestic currency required to match that unit. 3. Formal expression of the exchange rate as units of domestic currency per single unit of foreign currency. 4. Identification of the format as the standard quoting convention used in India (e.g., INR per USD 1). Select the correct answer using the code given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, 3, 4✓
- 24, 3, 2, 1
- 33, 1, 2, 4
- 42, 1, 4, 3
Correct answer
1, 2, 3, 4
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