Deja ’08: FX global dollar swap market

14 November, 2019

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FX swap volumes have grown to represent 49% of total currency trading, from 42% in 2013, Bank for International Settlements (BIS) figures from August show. Unlike regular ‘spot’ currency transactions, swaps involve two parties swapping one currency for another. Repayment is after a set period and fixed at a forward exchange rate determined by the gap in interest rates on the two currencies.
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