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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 ≈ 0.01198. Therefore, the indirect quote is INR/USD 0.01198.

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