ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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CURRENCY SWAP Definition
CURRENCY SWAP is an exchange of two currencies according to an agreement to re-exchange the currencies at the same rate at a specified future date. During the term of the agreement, exchanges of interest payments denominated in the respective currencies also may occur.
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LIBOR see LONDON INTERBANK OFFERED RATE.
BASIS POINTS is 0.01% in yield. For example, in increasing from 5.00% to 5.05%, the yield increases by five basis points.
