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Direct Quotation
A currency quotation method where the local currency is fixed, and the foreign currency varies.
Bid-ask Spread
The difference between the highest price a buyer is willing to pay for an asset (bid) and the lowest price a seller is willing to accept (ask).
Bid Rate
The price at which a buyer is willing to purchase a security, currency, or commodity, often used in financial markets to specify the maximum price a buyer is comfortable with.
Monetary Unit
The standard unit of currency in which financial transactions are recorded and reported in a company's financial statements.
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