Direct quote

A direct quote is the number of units of a domestic currency needed to buy one unit of a foreign currency. This means that the foreign currency unit is fixed, while the domestic currency unit varies as part of the quote.

Thus, if a person is located in the United States, a direct quote for the Euro could be $0.80 Dollars = 1 Euro. Similarly, for a person based in the United Kingdom who wants to buy U.S. Dollars, a direct quote could be 0.75 Pounds = $1.