12 The Definition of Exchange Rate Appreciation=decline of exchange rate? Exchange rates are quoted in two ways Direct indirect ways ◆直接标价法( direct quotation指一定基数(1 或100)的外国货币单位相当于多少本国货币。 Eg most countries ◆间接标价法( indirect quotation)指一定数量的 本国货币单位折合成多少外国货币。E 9,∥ America Britain1.2 The Definition of Exchange Rate  Appreciation=decline of exchange rate?  Exchange rates are quoted in two ways:  Direct & indirect ways  直接标价法(direct quotation)指一定基数（1 或100）的外国货币单位相当于多少本国货币。 Eg, most countries  间接标价法(indirect quotation)指一定数量的 本国货币单位折合成多少外国货币。Eg, America & Britain