The exchange rate involved in a cross deal. Quite often, the rate is derived from exchanging one currency for the US Dollar and then exchanging US Dollars for the second currency.
An exchange rate between two currencies, usually constructed from the individual exchange rates of the two currencies, measured against the United States dollar.
In foreign exchange, the price of one currency in terms of another currency in the market of a third country. For example, a London dollar cross-rate could be the price of one U.S. dollar in terms of deutsche marks on the London market.