CURRENCY SWAP Definition

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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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HARDWARE, in data processing, is a computer and associated physical equipment involved in data processing or communications functions as opposed to software (the computer programs that provide instructions the computer follows).

UNAPPLIED FUNDS is available money credited to a temporary holding (suspense) account, pending determination or instruction on the breakdown of how the money is to be allocated.

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