What I said above is right. There are two ways to express foreign exchange rate, one is direct quotation method, and the other is indirect pricing method. Direct quotation is a way to express a unit's foreign currency exchange rate in domestic currency. Generally speaking, foreign currency of 1 unit or 100 unit can be converted into local currency. The more valuable the local currency is, the less local currency can be exchanged for one unit of foreign currency, and the smaller the exchange rate value is; On the other hand, the less valuable the local currency is, the more it can be converted into foreign currency, and the greater the exchange rate value. Under the direct quotation, the fluctuation of foreign exchange rate is inversely proportional to the change of the value of domestic currency: the local currency appreciates and the exchange rate declines; The local currency depreciates and the exchange rate rises. Most countries use direct quotation. Most of the exchange rates in the market are also directly quoted exchange rates. Such as: US dollar against Japanese yen, US dollar against Hong Kong dollar, US dollar against RMB, etc.

Indirect pricing method is also called quantity pricing method. It is a way to express the exchange rate of a certain unit of domestic currency in foreign currency. Generally speaking, how many foreign currencies can be exchanged for the local currency of 1 unit or 100 unit? The more valuable the local currency is, the more foreign currencies can be converted in the unit local currency, and the greater the exchange rate value; On the other hand, the less valuable the local currency is, the less foreign currency can be converted into local currency, and the smaller the exchange rate value is. Under the direct quotation, the fluctuation of foreign exchange rate is directly proportional to the change of domestic currency value: the local currency appreciates and the exchange rate rises; The local currency depreciated and the exchange rate fell. The former Commonwealth countries often use indirect pricing method, such as Britain, Australia and New Zealand. The exchange rates quoted directly in the market mainly include the pound against the US dollar and the Australian dollar against the US dollar.