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Quotes of the day:
Everyone can get the gold of the Sun. (Tout le monde cueille l\'or du soleil)
A currency swap, sometimes referred to as a cross-currency swap, involves the exchange of interest – and sometimes of principal – in one currency for the same in another currency. Interest payments are exchanged at fixed dates through the life of the contract. It is considered to be a foreign exchange transaction and is not required by law to be shown on a company’s balance sheet.
Currency Swap Agreement Explained with Example
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