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Derivatives whose value is linked to foreign currency exchange rates.

The most common foreign-currency-linked derivatives are:

- Forward-type foreign exchange rate contracts, under which currencies are sold or purchased for an agreed exchange rate on a specified day;

- Foreign exchange swaps, whereby there is an initial exchange of foreign currencies and a simultaneous forward purchase/sale of the same currencies;

- Cross-currency interest rate swaps, whereby— following an initial exchange of a specified amount of foreign currencies—cash flows related to interest and principal payments are exchanged according to a predetermined schedule; and

- Options that give the purchaser the right but not the obligation to purchase or sell a specified amount of a foreign currency at an agreed contract price on or before a specified date.

Source Publication:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix 1. Special financial instruments and transactions: classifications, IMF, Washington DC.


Statistical Theme: Financial statistics

Created on Friday, August 29, 2003