Quotations for straight rate

All foreign exchange prices are based on interbank spot rates, i.e., all rates are quoted in foreign currencies against US dollars or HK dollars, and both buying and selling prices are quoted simultaneously. The floating market exchange rate between the US and HK dollars will be determined based on the market rates.

Quotations for cross rate

Straight rates are quoted in foreign currencies against US dollars, while cross rates are quoted in terms of one foreign currency against another. Examples are Euro/Yen, Euro/Sterling, and Sterling /Yen.