The exchange rate between two currencies, neither of which is the official currency of the country in which the rate is quoted. For example, if you are in the US and looking at the exchange rate between the Euro and the Japanese Yen (EUR/JPY).
The exchange rate between two currencies, neither of which is the official currency of the country in which the rate is quoted. For example, if you are in the US and looking at the exchange rate between the Euro and the Japanese Yen (EUR/JPY).