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A direct terms quote is based on a single unit of the domestic currency unit3. An exchange From a Canadian perspective, however, it is an indirect terms quote 

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FEMA ACT 1999 Defines Foreign Exchange as “Foreign Exchange means INDIRECT( HC fixed). Rs 100 = USD 2.2133. Rs 100 = GBP 1.1629. Rs 100 = EUR 1.7265. With Effect from 02.08.1993, all exchanges are quoted in Direct Method.