foreign exchange swap
Defined in 1 dictionary — U.S. Code
United States Code
7 U.S.C. § 1A — as used in this chapter
The term “foreign exchange swap” means a transaction that solely involves—
(A) an exchange of 2 different currencies on a specific date at a fixed rate that is agreed upon on the inception of the contract covering the exchange; and
(B) a reverse exchange of the 2 currencies described in subparagraph (A) at a later date and at a fixed rate that is agreed upon on the inception of the contract covering the exchange.