The exchange rate between two currencies expressed as the ratio of two foreign exchange rates that are both expressed in terms of a third currency. Foreign exchange rate between two currencies other than the US dollar, the currency in which most exchanges are usually quoted.
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In foreign exchange, the exchange rate of currencies being traded in a country that does not utilize either of those currencies. For example, a trader in Britain dealing in Mexican pesos and euros will trade them at the cross rate. Less frequently, the cross rate refers to any exchange rate that does not involve the U.S. dollar. See also: Cross currency.
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