Cross Rate
Tue, Apr 15Cross rates are utilized to determine the exchange rate for a currency pair that is not frequently quoted. For instance, EUR/GBP, CHF/JPY, or AUD/NZD.
This method is referred to as a cross rate because the exchange rate is derived by comparing the value of each currency in the pair against a third (major) currency, typically the U.S. dollar.
For example, if you have the AUD/USD and NZD/USD exchange rates, you can use these to calculate the AUD/NZD exchange rate.
The term “cross rate” can also apply to any currency pairs that do not involve the U.S. dollar.
The base currency always holds a value of one and serves as the reference currency for the exchange rate of the currency pair.
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