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Which of the following statement is true?
1. Rs. 63/USD is direct quote in India.
2. Rs. 63/USD is direct quote in USA.
3. 1 Rupee = 0.0158 dollars is indirect quote in India.
4. 1 Rupee = 0.0158 dollars in indirect quote in USA

Which of the following statement is true?
1. Rs. 63/USD is direct quote in India.
2. Rs. 63/USD is direct quote in USA.
3. 1 Rupee = 0.0158 dollars is indirect quote in India.
4. 1 Rupee = 0.0158 dollars in indirect quote in USA Correct Answer Both 1 and 3

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In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested courses of action logically follow(s) for pursuing. Statement: The rupee may slump to a new low this year amid global policy uncertainties while domestic interest rates will remain elevated, raising borrowing costs, according to an ET poll of 20 market participants. Nearly three-fourths of the respondents believe the local unit could touch 69 to the dollar with some even pointing to 70 by December-end. The rupee is one of the worst-performing emerging market currencies this year, having lost about 6.7 per cent to the greenback to close at 68.13 on Monday. Courses of action: I. Indian corporates may borrow less ahead of elections with the likely benchmark rate at 8 per cent or more. Half the poll participants were of the opinion that the benchmark yield will either hover around that level or rise further. II. External factors coupled with domestic macro measures like weak current account deficit or fiscal deficit are likely to impact the rupee. The US Fed seems to be on course to raise rates.  III. Upcoming elections trigger a bit of policy uncertainty. A cocktail of factors including dollar strengthening, foreign fund outflows, general emerging market weakness and oil would continue to weigh on the rupee.
Which of the following option is correct?
Statement I Direct quote is when the foreign currency remains fixed and the home currency keeps on varying.
Statement II Quotations in direct quote are the ones that represent the value of a foreign currency in rupees (number of rupees per currency) are denoted as direct quotations.