If we explain the value of one unit of foreign currency in terms of domestic currency (like 1$ = 5.65₺ or 1€ = 6,32₺), it is the direct foreign exchange rate and shown as $/₺ or €/₺. On the contrary, if we explain the value of one unit of domestic currency in terms foreign currency (like 1₺= 0.18$ or 1₺= 0.16€), it is the indirect foreign exchange rate and shown as ₺/$ or ₺/€. The value of foreign currency units in terms of each other is called as the cross foreign exchange rate (sometimes shortly cross rate) like 1$ = 0.89€ or 1€ = 1.12$.