Foreign Exchange Rate Quotations (Answer all 3) The first fill in the blank is either Direct or Indirect last fill in the blank is either reciprocal or independant

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6. Foreign exchange rate quotations Aa Aa An exchange rate is the price of one country's currency expressed in another country's currency The exchange rates of the euro () and the Japanese yen () relative to the U.S. dollar () are listed as follows: Spot Rate Euro 0.5447 /$1 Yen 108.4500/$1 When exchange rates are stated as quotation, the foreign exchange rate represents the number of American dollars that can be purchased with one unit of domestic currency. How many yen () can one euro ( 1) purchase? 199.10 258.83 169.24 179.19 Direct and indirect quotations have relationship