The Collaborative International Dictionary of English v.0.48:

Interpret \In*ter"pret\, v. t. [imp. & p. p. Interpreted; p.
   pr. & vb. n. Interpreting.] [F. interpr[^e]ter, L.
   interpretari, p. p. interpretatus, fr. interpres interpeter,
   agent, negotiator; inter between + (prob.) the root of
   pretium price. See Price.]
   [1913 Webster]
   1. To explain or tell the meaning of; to expound; to
      translate orally into intelligible or familiar language or
      terms; to decipher; to define; -- applied esp. to
      language, but also to dreams, signs, conduct, mysteries,
      etc.; as, to interpret the Hebrew language to an
      Englishman; to interpret an Indian speech.
      [1913 Webster]

            Emmanuel, which being interpreted is, God with us.
                                                  --Matt. i. 23.
      [1913 Webster]

            And Pharaoh told them his dreams; but there was none
            that could interpret them unto Pharaoh. --Gen. xli.
                                                  8.
      [1913 Webster]

   2. To apprehend and represent by means of art; to show by
      illustrative representation; as, an actor interprets the
      character of Hamlet; a musician interprets a sonata; an
      artist interprets a landscape.

   Syn: To translate; explain; solve; render; expound;
        elucidate; decipher; unfold; unravel.
        [1913 Webster]

WordNet (r) 3.0 (2006):

interpreting
    n 1: an explanation of something that is not immediately
         obvious; "the edict was subject to many interpretations";
         "he annoyed us with his interpreting of parables"; "often
         imitations are extended to provide a more accurate
         rendition of the child's intended meaning" [syn:
         interpretation, interpreting, rendition, rendering]