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English definition of “currency swap”

currency swap

noun [C]
 
 
BANKING, FINANCE an agreement between two organizations to change the amount of money lent or the interest payments of a loan made in one currency for the same part of a loan in another currency: When they borrowed dollars from the bank, they entered into a currency swap to protect the value of their loan for projects that had to be paid in pesos.
(Definition of currency swap from the Cambridge Business English Dictionary © Cambridge University Press)
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