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Swap currency

• The buyer of the swap agrees to make a number of fixed or floating interest rate payments periodically to the seller in one currency on some agreed upon notional amount and receive payments denoted in another currency. For instance, one party pays UD dollars and receives British pounds. By entering into a currency swap, both parties attempt to hedge their FX exposures.

 
 

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 Embedded terms in definition
 Currency swap
Currency
Hedge
Interest rate
Interest
Notional
Swap
 
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