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CFAI currency quotation confusion - foreign vs domestic currency

Hi all, hope studies are going well. I'm stuck at the currency convention as I'm confused as hell and make mistakes in the practice papers, hope someone can help!

  • For example, from the internet, I learned that EUR/USD of 1.2 means 1 EUR = USD 1.2. But in CFA questions the meaning seems to be the other way round? i.e. EUR 1.2 = 1 USD.
  • Then I came across EUR:USD which seems to imply it is USD 1.2 per 1 EUR. * tears hair out *

Can anyone shed some light on this and help me PLEASE?


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