Cross rate (交叉汇率 jiāo chā huì lǜ) often refers to the exchange rate (汇率 huìl ǜ) between two non-U.S. dollar currencies which is calculated from the basic rate.
Part 1: Breakdown of Words
- “Cross” (交叉 jiāo chā) as in “cross-currency swap” (交叉货币掉期 jiāo chā huò bì diào qī).
- “(Exchange) rate” (汇率 huì lǜ) as in “floating exchange rate” (浮动汇率 fú dòng huì lǜ).
Part 2: Examples
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