#firstdealofthenewyearFateema A quote is an exchange rates that expresses the value of one currency in terms of another currency. Types of forex Quote 1.Direct Quote:A direct quote expresses the value of foreign currency in terms of domestic currency. 2.Indirect Quote:an indirect quote expresses the value of the domestic currency in terms of a foreign currency. Importance of forex quote 1.price discovery:forex quote help to determine the market price of a currency pair. 2.Trading decisions:forex quote provide with information they need to make informed trading decisions. 3.Risk management:forex quote help traders to manage their risks by providing them with the current price of a currency pair.