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Pricing: For a floating-floating currency swap where only the exchange rate is hedged, a market. exchange rate (typically, the spot rate as of the effective date of the swap) is used to convert the. payment amounts of the local currency into the target currency. The same exchange rate is used.
True / False Questions. 1. (p. 324) The foreign exchange market is a market for converting the currency of one country into that of another country. TRUE. Difficulty: Easy. 2. (p. 324) Currency fluctuations can make seemingly profitable trade and investment deals unprofitable and vice versa.. (p. 326) A currency swap is the rate at which a foreign exchange dealer converts one currency into another on a particular day. FALSE. Difficulty: Easy. 9. (p. 326) When a tourist goes to a bank in a foreign country to convert money into the local currency, the exchange rate used is the spot rate.