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In: Finance

define the following terms- Official Reserve Account- Direct Quotation- Indirect Quotation

define the following terms

- Official Reserve Account

- Direct Quotation

- Indirect Quotation

Solutions

Expert Solution

Official Reserve Account

The official reserve account is a sub part of the capital account which consists of foreign currency and securities held by the central bank of a country and is used to balance the payments from one year to next year.These reserves increases in value if there is a trade surplus and the value decreases if there is a trade deficit.

Direct Quotation

Direct quotation is where the cost of one unit of foreign currency that is quoted in units of local or domestic currency. in general U.S. dollar serves as the base currency in most direct quotes with exception for british pound and Euro.

Indirect Quotation

Indirect Quotation is the cost of one unit of local or domestic currency that is quoted in units of foreign currency. Indirect quotes refers to the amount of foreign currency required to purchase or sell a unit of domestic or local currency.

jeff jeffy answered 2 years ago
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