Hello everybody,
I am doing some calculations for my finance class which I normally do like a lot but due to some misunderstanding explanations by the professor, I have some really basic questions, which might also sound stupid.

Exchange rates: 1,34 $/Euro --> so its Dollars per Euro, so 1,34$ = 1 Euro?! But while doing some calculations and research I found a lot of listings saying e.g. EURUSD = 1.5877, so 1 EUR = USD 1.5877. Why are base and reference currency changed in this example and still given the same exchange rate? for EURUSD I would have given 1/1.5877 as the exchange rate. I am really confused here..Is this due to direct and indirect quotations?

Best regards, Philipp

Ask your teacher - if you don't understand something, that's what they are there for.