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RBA Glossary definition for exchange rates

exchange rates – The price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per US dollar (USD/AUD) or US dollars per Australian dollar (AUD/USD). The convention for the Australian dollar is that it is quoted as the foreign currency price of the Australian dollar. This is sometimes referred to as the 'Indirect' method of quoting.

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Appendix 1: RBII Specification

1 Aug 1984 RDP 8401
J.G. Fahrer, R.W. Rankin and J.C. Taylor
E. exchange rate ($A/$US). F. net Australian private capital owned by overseas residents. ... QER. synthetic variable for timing of exchange rate changes, 1972, 1793, 1974, 1976.
https://www.rba.gov.au/publications/rdp/1984/8401/appendix-1.html

References

1 Aug 1984 RDP 8401
J.G. Fahrer, R.W. Rankin and J.C. Taylor
Economic Record. , 1978. Jonson, P.D. and Eberhardt, J.E. (1977). Interest Rates and Exchange Rate Expectations in the RBA76 Model. ... 1981). External and Domestic Interactions: A Sensitivity Analysis (Further Results). (8104) Reprinted as “Exchange
https://www.rba.gov.au/publications/rdp/1984/8401/references.html

The Fit of the Model

1 Aug 1984 RDP 8401
J.G. Fahrer, R.W. Rankin and J.C. Taylor
The model would need to be altered to allow for floating exchange and bond rates, and policy reaction functions for exchange intervention and bond tender sizes, as well as shifts in
https://www.rba.gov.au/publications/rdp/1984/8401/the-fit-of-the-model.html