Vidyalelo
Management · Q696

International Finance and Treasury

Graduate and Post Graduate · Management · question 696

Q696

If your local currency is in variable form and foreign currency is in fixed form quotation will be:

A.
indirect
B.
direct
Answer
C.
local form
D.
foreign form

Answer: Option B

Solution

Answer: Option B
Solution:
If your local currency is in variable form and foreign currency is in fixed form quotation will be direct. A local currency, is a currency that can be spent a particular area at participating organisations. Usually it will act as a complementary currency, that is to be used in additional to a national currency, rather than replace it.