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Exchange Rate Quotations
In the quoting convention A/B, currency A the price currency (or quote currency); currency B the base currency. The base currency is always set at a quantity of one.
A direct currency quote takes the domestic country as the price currency and the foreign country as the base currency.
An indirect currency quote takes the foreign country as the price currency and the domestic country as the base currency.
Bid price: the price at which the bank is willing to buy the currency.
Offer price: the price at which the bank is willing to sell the currency.
Bid < Offer
The two-sided price quoted by the dealer is in terms of buying/selling the base currency.
E.g. two-sided price in euro–Swiss (CHF/EUR): 1.3405–1.3407. Receive CHF1.3405 for selling EUR1 to the dealer and must pay CHF1.3407 to the dealer to buy EUR1.
583Money-Weighted Rate of Return & Time-Weighted Rate of Return:[Solutions] C
129The Unemployment Rate:The Unemployment Rate:environment.measure the labor force in terms of the working-age population.constraints written into labor contracts that make layoffs expensive.
474Nominal and Real Exchange Rates:Or:the cost of one unit of the base currency in terms of the price currency.:USDEUR exchange rate of 1.2875,in terms of the domestic currency.
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