Cross Rate - Exchange Rate Between Two Currencies
The cross rate is the currency exchange rate between two currencies, where neither of the currencies are of the country in which the exchange rate is given. An example of a cross rate would be the exchange rate of the U.S. Dollar and Euro, quoted in a finance journal from Canada. Many foreign exchange dealers have created profitable arbitrage trading techniques to profit off the cross rate between the major currencies. Cross rates are listed in all of the major news publications, such as the Wall Street Journal, Bloomberg, and the New York Times.