Direct Quote

[Former Member]

Hi all,

May I know what is Direct Quote in foreign currency transactions?

Thanks in advance

Shravan

[Former Member]

Hi,

It is simple, in Direct you state for 1 unit of foreign = how many units of home(co. cd. curr)

like 1USD = 1.25 SGD

this is direct quote fof Singapore

Regards.

Atul

[former_member200240]

Hi

Direct quotation is where the cost of one unit of foreign currency is given in units of local currency, whereas indirect quotation is where the cost of one unit of local currency is given in units of foreign currency.

For eg if your local currency is INR and foreign currency is USD

Direct quote is 1 USD= 40 INR

Indirect quote is 1 INR=1/40 USD

S Jayaram

[former_member795356]

A currency value expressed in units of the foreign currency per unit of local currency (compared to direct quotation).

Indirect quotation is also known as volume notation.

Example

Local currency: EUR

Foreign currency: USD

[Former Member]

Hi,

Here do you have group currency and company code currency

For example your group currency might be EUR

your company code currency might be INR

whenever you are making your transation it will get update through tranding partner Group account number and with alternative account number.

it will get update eur to inr or inr to eur automatically

you hv to configure in okb9