As far as foreign exchange quotes are concerned banks in Oman use the direct quotation system Select one: True False

Finance Jan 15, 2021

Expert Solution

False, Direct quotation is when the one unit of foreign currency is expressed in terms of domestic currency. But Oman uses the system of one unit of domestic currency us expressed in terms of foreign currency The quote is direct when the price of one unit of foreign currency is expressed in terms of the domestic currency.

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