1. The exchange rate between two currencies as implied by their values with respect to a third currency. 2. Thus, since most currencies are commonly quoted in U.S. dollars, the exchange rate between any two currencies other than the dollar.
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A cross rate is the rate of exchange between two currencies not including the US Dollar.
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http://www.encyclo.co.uk/local/20416
The exchange rate between two currencies, other than those that form a market's principal rates.... <a target=_blank href='http://www.finance-glossary.com/terms/cross-rate.htm?id=1690&ginPtrCode=00000&PopupMode=false' title='Read full definition of cross rate'>more</a>
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