Cross-Currency Swap
A cross-currency swap exchanges interest payments, and often principal, in two currencies to manage funding or currency exposure.
Currency swap, cross-currency swap, foreign-exchange swap, non-deliverable swap, quanto swap, and swap-points terms.
Currency and Cross-Border Swaps is the financial-instruments landing page for swap mechanics, ISDA documentation, notional principal, interest-rate swaps, currency swaps, credit derivatives, total-return swaps, variance swaps, volatility swaps, and inflation swaps. It keeps related terms in one branch so readers can move from a broad instrument question to the article that owns the contract evidence.
Use this page when a swap or rate-linked derivative changes cash-flow exchange, counterparty exposure, hedging, or valuation. Use the parent Swaps, Rates, and Credit Derivatives page when you need the broader instrument map. For an individual decision, confirm the contract, term sheet, prospectus, confirmation, exchange specification, or disclosure record before relying on the term.
Use the table below to move from this landing page into the term page that best matches the instrument evidence.
| Term | Use it for |
|---|---|
| Cross-Currency Swap | Cross-Currency Swap helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
| Currency Swap | Currency Swap helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
| Foreign Exchange Swap | Foreign Exchange Swap helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
| Non-Deliverable Swap (NDS) | Non-Deliverable Swap (NDS) helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
| Quanto Swap | Quanto Swap helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
| Swap Points | Swap Points helps define exchanged cash flows, notional exposure, counterparty terms, or swap valuation inputs. |
An interest-rate swap can convert fixed-rate debt exposure into floating-rate exposure without refinancing the underlying loan.
Currency Swaps content is educational and does not provide personalized investment, tax, legal, accounting, valuation, derivatives, or securities advice.
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A cross-currency swap exchanges interest payments, and often principal, in two currencies to manage funding or currency exposure.
A currency swap exchanges cash flows in different currencies, helping borrowers or investors manage exchange-rate and funding exposure.
A foreign exchange swap combines a spot currency exchange with a forward reversal, often for liquidity, funding, or FX hedging.
A non-deliverable swap settles net cash differences without exchanging the restricted or reference currency itself.
A quanto swap links payoff exposure to one market while settling in another currency, separating asset exposure from currency settlement.
Swap points are the forward points added to or subtracted from a spot FX rate to quote a forward or swap price.