Question

If the direct quote for the rand-dollar exchange rate is R19,07 = $1,00, what will the
indirect quote be?

Answer 1

$Indirect \space quote=\frac{1}{direct\space quote}$

direct quote$=\frac{19.07}{1.00}=19.07$

Indirect quote$=\frac{1}{19.07}=0.052438384$

$1.00=R0.052438384