swap
In exchange markets, this is a simultaneous sale of a currency on the spot market together with a purchase of the same amount on the Forward Market. By combining these two transactions into a single one,transactions costs may be reduced. An arrangement between central banks whereby they each agree to lend their currency to the other.
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Circus Swap
unbiased expectations hypothesis
absolute rate
forward exchange rate
spot next
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possession
overseas
breakup value
taxable income
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