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hello friends welcome back to a new lecture friends in this lecture we will see the concept of direct and indirect code and at last we will solve a detailed question to understand the concept better please note this is a very important concept or i should say the base of forex so please pay attention to the lecture carefully now friends in the quote dollar one equals rupees 75 this quote is basically given for one unit of dollar now for an entity in india dollar is a foreign currency so this court is for one unit of foreign currency now this is nothing but direct code so in a direct code one unit of foreign currency is expressed in terms of local currency in the given example also you can see that one unit of foreign currency that is dollar is expressed in terms of local currency that is rupees now friends let us move forward and if i ask you given dollar one equals rs 75 what will be rupee one in terms of dollar now friends this is also very simple if dollar one equals rupees 75 then