We derive the pricing formulas for guaranteed contracts with guaranteed minimum rates ofreturn linked to cross-currency stochastic rates of return under a cross-currency framework. These rates are often embedded in contracts such as life and pension insurance policies, guaranteedinvestment contracts, and index-linked bonds. Valuation of such contracts has notbeen investigated in the previous literature. Our research finds that the past valuation ofthese rates via a single-currency framework causes significant underestimation under bothmaturity and (especially) multi-period guarantees. Our pricing formulas are more suitable,tractable, and feasible in practice than those in the previous literature.