<P> 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 . It also specifies an initial exchange of notional currency in each different currency and the terms of that repayment of notional currency over the life of the swap . </P>
<P> 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 . It also specifies an initial exchange of notional currency in each different currency and the terms of that repayment of notional currency over the life of the swap . </P>
an agreement to exchange two currencies is called a ( n )
an agreement to exchange two currencies is called a ( n )
cross-currency swap
cross-currency swap