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The forex market gives the quotes for the currencies in two ways (viz. Direct quote and Indirect quote).
The quote "INR/$ =60" must be read as1$ =60 INR.
The said quote is a direct quote for Indian forex market [one unit of foreign currency $ in so many units of local currency INR].
Whereas, for US market, it will be an indirect quote [one unit of local currency $ in so many units of foreign currency INR].
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