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cross-currency swap

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cross-currency swap

Agreement between two parties to exchange equivalent fixed amounts in two different currencies for a fixed period and then to re-exchange the amounts. For the duration of the swap each party pays interest on the received amount at the prevailing fixed or floating interest rate set in the country issuing the currency. At maturity the fixed principal amounts are re-exchanged.

The reasons for carrying out a currency swap might include: to obtain the use of a currency at a cheaper rate than might be possible through other means; to lock into a specific interest rate; for hedging purposes; or for investment speculation.



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For non-USD issuers, there is also noise from the underlying foreign exchange (Fx) exposures unless everything is swapped back to USD fixed or floating via cross-currency swaps.
Missing the boat: when is it too late to start hedging? by Okochi, Jiro / Financial Executive
This news release contains forward looking statements, including statements regarding the Company's future results, growth and operating strategy, restructuring initiatives, the impact of new stores and acquisitions, the debt refinancing and cross-currency swap transactions, and of the performance of new products.
Dollar Financial Corp. Announces Pricing of Secondary Offering of ... by Business Wire
This news release contains forward looking statements, including statements regarding the Company's future results, growth and operating strategy, restructuring initiatives, the impact of new stores and acquisitions, the debt refinancing and cross-currency swap transactions, and of the performance of new products.
Dollar Financial Corp Announces Fiscal 2007 Second Quarter Results ... by Business Wire
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