To hedge the mismatch between your liability and your asset in different currencies.
It involves the exchange of principal denominated in a particular currency for an equivalent amount in another currency.
At maturity, the principal is re-exchanged between the two parties.
It can be tailored to meet your needs.
Interest payments on the two currencies will be exchanged at their respective interest rates.
Can protect against changes adverse movement in interest rates and reduce foreign currency exposures.
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