What is a spot transaction? What is a direct quote? An indirect quote?
What will be an ideal response?
The spot exchange rate is simply the price of one currency stated in terms of another with immediate delivery. Another
type of transaction carried out in the foreign exchange markets is known as a forward exchange rate, which is an
exchange rate agreed upon today but which calls for delivery of currency at the agreed-upon rate at some future date.
A direct quote is the exchange rate that indicates the number of units of the home currency required to buy one unit of
a foreign currency. An indirect quote is the exchange rate that expresses the number of units of foreign currency that
can be bought for one unit of home currency.
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