Indirect quote

An indirect quote is the number of units of a foreign currency required to purchase one unit of the base currency. For example, an indirect quote for the Euro could be 1.2 Euros per 1 U.S. Dollar. The concept is used in the foreign exchange market to establish rates at which currencies can be traded.

An indirect quote is the reverse of a direct quote.

Related Courses

Foreign Currency Accounting 
Corporate Cash Management 
Treasurer's Guidebook