Cross rates is a generic term for all exchange rates not involving the US dollar. By using the different exchange rates against the Swedish krona, cross rates can also be calculated for the British pound against the euro, for example. Two values are obtained in this result, for example the British pound against the euro, and the euro against the British pound.
Every day at 9.30 am, the Swedish banks calculate a fixing rate according to the formula (bid+ask) / 2. At 10:05 am, NASDAQ OMX Stockholm AB establishes a joint MID-PRICE by calculating the average value of the banks’ fixing rates.
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