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    Question

    If the direct quote in India is USD/INR = 83.50, what is

    the indirect quote?
    A INR/USD = 0.01198 Correct Answer Incorrect Answer
    B INR/USD = 83.50 Correct Answer Incorrect Answer
    C USD/INR = 0.01198 Correct Answer Incorrect Answer
    D INR/USD = 0.01198 Correct Answer Incorrect Answer

    Solution

    Indirect Quote = 1 / Direct Quote. So, 1 / 83.50 тЙИ 0.01198. Therefore, the indirect quote is INR/USD 0.01198.

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