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Currency swap

Index Currency swap

In finance, a currency swap (more typically termed a cross-currency swap (XCS)) is an interest rate derivative (IRD). [1]

52 relations: Argentina, Bank of England, Belarus, Berkshire Hathaway, Bilateral trade, Bloomberg L.P., Brazil, Cash flow, Central bank liquidity swap, Charlie Munger, China, Comparative advantage, Counterparty, Day count convention, Derivative (finance), Euribor, Euro, Euro convergence criteria, European Central Bank, Exchange rate, Federal Reserve System, Finance, Financial crisis of 2007–2008, Foreign exchange controls, Foreign exchange swap, Greece, Hedge (finance), Hong Kong, IBM, Iceland, Indonesia, Interest rate derivative, Interest rate swap, Libor, Liquidity crisis, Malaysia, Market liquidity, Notional amount, People's Bank of China, Pound sterling, Quanto, Renminbi, Russia, Salomon Brothers, Singapore, South Korea, Swap (finance), Swaption, United Kingdom, United States dollar, ..., Uzbekistan, World Bank. Expand index (2 more) »

Argentina

Argentina, officially the Argentine Republic (República Argentina), is a federal republic located mostly in the southern half of South America.

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Bank of England

The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom of Great Britain and Northern Ireland and the model on which most modern central banks have been based.

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Belarus

Belarus (Беларусь, Biełaruś,; Беларусь, Belarus'), officially the Republic of Belarus (Рэспубліка Беларусь; Республика Беларусь), formerly known by its Russian name Byelorussia or Belorussia (Белоруссия, Byelorussiya), is a landlocked country in Eastern Europe bordered by Russia to the northeast, Ukraine to the south, Poland to the west, and Lithuania and Latvia to the northwest.

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Berkshire Hathaway

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.

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Bilateral trade

Bilateral trade or clearing trade is trade exclusively between two states, particularly, barter trade based on bilateral deals between governments, and without using hard currency for payment.

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Bloomberg L.P.

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

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Brazil

Brazil (Brasil), officially the Federative Republic of Brazil (República Federativa do Brasil), is the largest country in both South America and Latin America.

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Cash flow

A cash flow describes a real or virtual movement of money.

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Central bank liquidity swap

Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank.

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Charlie Munger

Charles Thomas Munger (born January 1, 1924) is an American investor, businessman and philanthropist.

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China

China, officially the People's Republic of China (PRC), is a unitary one-party sovereign state in East Asia and the world's most populous country, with a population of around /1e9 round 3 billion.

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Comparative advantage

The law or principle of comparative advantage holds that under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.

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Counterparty

A counterparty (sometimes contraparty) is a legal entity, unincorporated entity, or collection of entities to which an exposure to financial risk might exist.

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Day count convention

In finance, a day count convention determines how interest accrues over time for a variety of investments, including bonds, notes, loans, mortgages, medium-term notes, swaps, and forward rate agreements (FRAs).

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Derivative (finance)

In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

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Euribor

The Euro Interbank Offered Rate (Euribor) is a daily reference rate, published by the European Money Markets Institute, based on the averaged interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the euro wholesale money market (or interbank market).

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Euro

The euro (sign: €; code: EUR) is the official currency of the European Union.

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Euro convergence criteria

The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency.

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European Central Bank

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the euro area, which consists of 19 EU member states and is one of the largest currency areas in the world.

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Exchange rate

In finance, an exchange rate is the rate at which one currency will be exchanged for another.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Finance

Finance is a field that is concerned with the allocation (investment) of assets and liabilities (known as elements of the balance statement) over space and time, often under conditions of risk or uncertainty.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Foreign exchange controls

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.

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Foreign exchange swap

In finance, a foreign exchange swap, forex swap, or FX swap is a simultaneous purchase and sale of identical amounts of one currency for another with two different value dates (normally spot to forward) and may use foreign exchange derivatives.

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Greece

No description.

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Hedge (finance)

A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment.

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Hong Kong

Hong Kong (Chinese: 香港), officially the Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory of China on the eastern side of the Pearl River estuary in East Asia.

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IBM

The International Business Machines Corporation (IBM) is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries.

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Iceland

Iceland is a Nordic island country in the North Atlantic, with a population of and an area of, making it the most sparsely populated country in Europe.

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Indonesia

Indonesia (or; Indonesian), officially the Republic of Indonesia (Republik Indonesia), is a transcontinental unitary sovereign state located mainly in Southeast Asia, with some territories in Oceania.

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Interest rate derivative

In finance, an interest rate derivative (IRD) is a derivative whose payments are determined through calculation techniques where the underlying benchmark product is an interest rate, or set of different interest rates.

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Interest rate swap

In finance, an interest rate swap (IRS) is an interest rate derivative (IRD).

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Libor

The London Inter-bank Offered Rate is the average of interest rates estimated by each of the leading banks in London that it would be charged were it to borrow from other banks.

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Liquidity crisis

In financial economics, a liquidity crisis refers to an acute shortage (or "drying up") of liquidity.

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Malaysia

Malaysia is a federal constitutional monarchy in Southeast Asia.

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Market liquidity

In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.

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Notional amount

The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument.

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People's Bank of China

The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by Bank Law.

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Pound sterling

The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha.

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Quanto

A quanto is a type of derivative in which the underlying is denominated in one currency, but the instrument itself is settled in another currency at some rate.

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Renminbi

The renminbi (Ab.: RMB;; sign: 元; code: CNY) is the official currency of the People's Republic of China.

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Russia

Russia (rɐˈsʲijə), officially the Russian Federation (p), is a country in Eurasia. At, Russia is the largest country in the world by area, covering more than one-eighth of the Earth's inhabited land area, and the ninth most populous, with over 144 million people as of December 2017, excluding Crimea. About 77% of the population live in the western, European part of the country. Russia's capital Moscow is one of the largest cities in the world; other major cities include Saint Petersburg, Novosibirsk, Yekaterinburg and Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a wide range of environments and landforms. From northwest to southeast, Russia shares land borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both with Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. It shares maritime borders with Japan by the Sea of Okhotsk and the U.S. state of Alaska across the Bering Strait. The East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, the medieval state of Rus arose in the 9th century. In 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus' ultimately disintegrated into a number of smaller states; most of the Rus' lands were overrun by the Mongol invasion and became tributaries of the nomadic Golden Horde in the 13th century. The Grand Duchy of Moscow gradually reunified the surrounding Russian principalities, achieved independence from the Golden Horde. By the 18th century, the nation had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, which was the third largest empire in history, stretching from Poland on the west to Alaska on the east. Following the Russian Revolution, the Russian Soviet Federative Socialist Republic became the largest and leading constituent of the Union of Soviet Socialist Republics, the world's first constitutionally socialist state. The Soviet Union played a decisive role in the Allied victory in World War II, and emerged as a recognized superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the world's second largest economy, largest standing military in the world and the largest stockpile of weapons of mass destruction. Following the dissolution of the Soviet Union in 1991, twelve independent republics emerged from the USSR: Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and the Baltic states regained independence: Estonia, Latvia, Lithuania; the Russian SFSR reconstituted itself as the Russian Federation and is recognized as the continuing legal personality and a successor of the Soviet Union. It is governed as a federal semi-presidential republic. The Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russia's extensive mineral and energy resources are the largest such reserves in the world, making it one of the leading producers of oil and natural gas globally. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction. Russia is a great power as well as a regional power and has been characterised as a potential superpower. It is a permanent member of the United Nations Security Council and an active global partner of ASEAN, as well as a member of the G20, the Shanghai Cooperation Organisation (SCO), the Council of Europe, the Asia-Pacific Economic Cooperation (APEC), the Organization for Security and Co-operation in Europe (OSCE), and the World Trade Organization (WTO), as well as being the leading member of the Commonwealth of Independent States (CIS), the Collective Security Treaty Organization (CSTO) and one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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Salomon Brothers

Salomon Brothers was an investment bank founded in 1910 by three Jewish-American brothers (Arthur, Herbert and Percy) along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and became Salomon Inc. Eventually, Salomon (NYSE:SB) was acquired by Travelers Group in 1998; and, following the latter's merger with Citicorp that same year, Salomon became part of Citigroup.

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Singapore

Singapore, officially the Republic of Singapore, is a sovereign city-state and island country in Southeast Asia.

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South Korea

South Korea, officially the Republic of Korea (대한민국; Hanja: 大韓民國; Daehan Minguk,; lit. "The Great Country of the Han People"), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland.

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Swap (finance)

A swap is a derivative contract where two parties exchange financial instruments.

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Swaption

A swaption is an option granting its owner the right but not the obligation to enter into an underlying swap.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United States dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution since 1792.

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Uzbekistan

Uzbekistan, officially also the Republic of Uzbekistan (Oʻzbekiston Respublikasi), is a doubly landlocked Central Asian Sovereign state.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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Redirects here:

Cross currency swap, Currency-swap, Swap line.

References

[1] https://en.wikipedia.org/wiki/Currency_swap

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