Currency Quotations in Frm exam part 1

[LEO04]

dear david.

I am always confused to see the currency pairs in the questions. how to interpret these quotes as which is domestic which is foreign,which quote is direct, indirect.What does it mean when one currency is given in term of others etc
Plz help
Rgds
Ajay

 

[David Harper CFA FRM]

Hi Ajay,

I am moving this to T3 (where FX is). Please see this recent discussion http://forum.bionicturtle.com/threads/hull-05-14.3764/#post-20669
... if i can answer anything more specific, maybe you can append there? Thanks