What is an exchange rate used for

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asked Oct 27, 2019 144k views

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Dumisani Kunene · Answer 1 · 2019-11-02T08:17:56+0000

In an indirect quotation, the domestic currency is the base currency and the foreign currency is the counter currency. Most exchange rates use the US dollar as the base currency and other currencies as the counter currency.

What is an exchange rate used for

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