Spot rate Quotations e Direct quotation the u.s. dollar equivalent e.g. a Japanese Yen is worth about a penny ● Indirect Quotation the price of a U.s. dollar in the foreign currency e. g. you get 100 yen to the dollar McGraw-Hilylrwoin 4-9 Copyright@ 2001 by The McGraw-Hill Companies, Inc. All rightsMcGraw-Hill/Irwin Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. 4-9 Spot Rate Quotations ⚫ Direct quotation ◼ the U.S. dollar equivalent ◼ e.g. “a Japanese Yen is worth about a penny” ⚫ Indirect Quotation ◼ the price of a U.S. dollar in the foreign currency ◼ e.g. “you get 100 yen to the dollar