At the foreign currency dealer, you are able to see the following direct quote: TZS/US$ 1,500...

 

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At the foreign currency dealer, you are able to see the following direct quote: TZS/US$ 1,500 - 1,600. Required i. Convert the direct quote into indirect quote version. ii. If the dealer buys and sells US$1,000, show calculations for the profit or loss would be made on the transaction if direct quotation or indirect quotation is used. At the foreign currency dealer, you are able to see the following direct quote: TZS/US$ 1,500 - 1,600. Required i. Convert the direct quote into indirect quote version. ii. If the dealer buys and sells US$1,000, show calculations for the profit or loss would be made on the transaction if direct quotation or indirect quotation is used.