What are Cross Currency Rates?

Cross Currency Rates :
A foreign exchange rate which provides a relationship between two non-domestic
currencies is called a cross currency rate.
Ex.
Quotation India USA Japan
USD / INR Direct Indirect Cross-Currency
INR / USD Indirect Direct Cross-Currency
Cross Rates :
The cross – currency rates are therefore used in combination with the vehicle currency
rate against the domestic currency to establish the value of the domestic currency against
all international currencies this process is called ‘Crossing’ and the resultant exchange
rates are called ‘Cross rates’.