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If an Exchange Rate Quotes the Number of Indian Rupees

question 87

True/False

If an exchange rate quotes the number of Indian rupees needed to buy one U.S. dollar, the dollar is the quoted currency and the rupee is the base currency.


Definitions:

Clarify

To make a statement or situation less confused and more comprehensible.

Obligations

Duties or commitments imposed by law, contract, or a sense of moral responsibility.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize laws across the states.

Identified

Recognized or distinguished as being a particular entity or belonging to a specific category or group.

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