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A cross-currency swap's (XCS's) effective description is a derivative contract, agreed between two counterparties, which specifies the nature of an exchange of payments benchmarked against two interest rate indexes denominated in two different currencies.
Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank. [1] [2] In a liquidity swap, the lending central bank uses its currency to buy the currency of another borrowing central bank at the market exchange rate, and agrees to sell the borrower's currency back at a rate that reflects the ...
The initiative began as a series of bilateral swap arrangements after the ASEAN Plus Three countries met on 6 May 2000 in Chiang Mai, Thailand, at an annual meeting of the Asian Development Bank. After 1997 Asian Financial Crisis , member countries started this initiative to manage regional short-term liquidity problems and to avoid relying on ...
Japan and South Korea agreed Thursday to revive a currency swap agreement for times of crisis, in the latest sign of warming ties as the countries work to smooth over historical antagonisms.
The swap deal was first agreed in 2001 as a tool to help the two countries combat a financial crisis, but it was never used and was allowed to expire in 2015 amid diplomatic tension.
The agreement, which was signed by the heads of the two central banks on Friday, will establish a two-way currency exchange line, the Qatar Central Bank said in a statement posted on its website.
Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo
LONDON (Reuters) -Argentina plans to tap a $7.5 billion disbursement from the International Monetary Fund to repay China part of the money it borrowed through a currency swap line, two sources ...