mafa
This query is : Resolved
18 March 2009
im confused about d direct an indirect quote,bid ask rate in forex pls help. urgent
18 March 2009
Direct Quote - No. of units of Domestic Currency per unit of foreign currency.
Indirect Quote - No. of units of Foreign currency per unit of Domestic currency.
For E.g. Rs.50 per $.
If this is a Direct Quote then Rupee (No. of units of rupees) will be the Domestic currency and USD will be the Foreign Currency (Per unit of USD).
BID Rate - The rate at which Authorised dealer will purchase the given currency.
Ask rate - The rate at which Authorised dealer will sell the given currency.
Say Rs.50.5100/50.9000 per USD
Here, AD will buy USD @ Rs.50.5100 and sell USD @ Rs.50.9000.
Always remember the given quote is from the point of view of dealer and not an exporter or importer
Indirect Quote - No. of units of Foreign currency per unit of Domestic currency.
For E.g. Rs.50 per $.
If this is a Direct Quote then Rupee (No. of units of rupees) will be the Domestic currency and USD will be the Foreign Currency (Per unit of USD).
BID Rate - The rate at which Authorised dealer will purchase the given currency.
Ask rate - The rate at which Authorised dealer will sell the given currency.
Say Rs.50.5100/50.9000 per USD
Here, AD will buy USD @ Rs.50.5100 and sell USD @ Rs.50.9000.
Always remember the given quote is from the point of view of dealer and not an exporter or importer
18 March 2009
If a quate is expressed in indian currency basis then it become the direct quate.
example.......Rupee per Dollar....this means for buying a dollar how much rupee you have to pay........
In this case the dollar become the prodduct
IF a quate is expressed in foreign currency then it is indiret quate........
Dollar per rupee..........
Bid rate is a rate at which currency can be purcahsed by the authoRISED DEALER. the rate in which we can sell the currency .....
example.......Rupee per Dollar....this means for buying a dollar how much rupee you have to pay........
In this case the dollar become the prodduct
IF a quate is expressed in foreign currency then it is indiret quate........
Dollar per rupee..........
Bid rate is a rate at which currency can be purcahsed by the authoRISED DEALER. the rate in which we can sell the currency .....
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