Which of the following option is correct?
Statement I Direct quote is when the foreign currency remains fixed and the home currency keeps on varying.
Statement II Quotations in direct quote are the ones that represent the value of a foreign currency in rupees (number of rupees per currency) are denoted as direct quotations.

A. Both statements are correct

B. Both statements are incorrect

C. Statement I is correct and Statement II is incorrect

D. Statement II is correct and Statement I is incorrect

Answer: Option A