How are exchange rates published daily? What quote does Chinfl use?
Exchange rates are published daily in two ways: direct quote andoindirect quote. In a direct quote, an amount of foreign currency, usualy one unit or one hundred units, is takep as the standard and the equivalentoamount of the home currency is marked after it. In an indirect quote, one unit or one hundred units of home urrency is taken as the standard and the equivalent amount of the foreign curreney is given after it. China uses the direct quote.
