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Basic Question 1 of 9
A direct quote is usually made in terms of the amount of ______.
B. local currency required to purchase one unit of foreign currency
C. local currency that the U.S. dollar purchases
A. foreign currency required to purchase one unit of local currency
B. local currency required to purchase one unit of foreign currency
C. local currency that the U.S. dollar purchases
User Contributed Comments 1
| User | Comment |
|---|---|
| vatsal92 | Note: - Numerator = Domestic/Price, Denominator = Foreign/Base |
I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt
Learning Outcome Statements
calculate and interpret the percentage change in a currency relative to another currency;
CFA® 2024 Level I Curriculum, Volume 2, Module 15.