In finance, an
exchange rate or
currency rate is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in relation to another currency.
For each organization, a list of base currencies with which it works is determined.
Course calculation strategies¶
Currency quotation is the fixing of the national currency in a foreign.
two types of Strategies:
Direct quotationshows the amount of base currency per unit of quoted currency.
The reverse (indirect) quotationreflects the number of units of the quoted currency per unit of base currency.