A forex rate that is either expressed (1) as the reciprocal of the conventional way of quoting it, or (2) as the amount of foreign currency that it costs to purchase one unit of the Domestic Currency. For example, to someone in the United States, an indirect quote for the Euro would be the number of Euros required to purchase one U.S. dollar, while to a European, it would be the number of U.S. Dollars required to purchase one Euro.
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