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Indirect Quote

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Indirect quote
For foreign exchange, the number of units of a foreign currency needed to buy one US dollar.
European Terms
In the United States currency market, an exchange rate stated in U.S. dollars per unit of a foreign currency. That is, the act of stating an exchange rate in European terms means stating the dollars needed to buy one unit of that currency. European terms contrasts with direct terms, which state the units of the foreign currency needed to buy one dollar.
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This applies to direct quotes, indirect quotes, and paraphrased statements.
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The word was used in an indirect quote attributed to Bishop in a story on Page B1 Thursday.
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