Direct quotation

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[edit] In literature

A direct quotation is a clear quotation said by a person and generally involves a whole sentence; it is absolutely verbatim in the order and is specific.

[edit] In Foreign Exchange

It is an exchange rate where a fixed unit of base currency is in the domestic currency, and the quoted foreign currency is variable.

For example, from an American traders perspective. USD/JPY 115.6200, means 1 US Dollar buys 115.62 Japanese Yen. Here the USD is the base currency and the Yen is the quote currency. For a US trader, his domestic currency is the USD, and as here it is the base currency, this is called a direct quotation. However, take GBP/USD = 1.9294. Here the British pound, or Sterling, is the base currency, and foreign, so this is called an indirect quotation'.