The maxim 39 buy low sell high 39 is applicable for ........

Economics- Phase (I & II) Balance of Payment and Foreign Exchange Markets

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The maxim 'buy low; sell high' is applicable for

Quotation of Pound-Sterling.

Indirect rates.

Direct rates

USDOLLARS

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Explanation:

the 'Buy low sell high' maxim applies to fruit vendor in the above case. Bankers dealing in foreign exchange deal in foreign currencies in place of apple. In currency deal there are two ways to quote a currency pair, known as direct quote and indirect quote