Write a short note on Swaps in the context of the Security analysis and portfolio Management.

Hi all, need help!!!!!! Provide description of Swaps as an agreement.
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"Swaps: Swaps are private agreements between two parties to exchange cash flows in the future according to a prearranged formula. They can be regarded as portfolios of forward contracts. The two commonly used swaps are : - Interest rate swaps: These entail swapping only the interest related cash flows between the parties in the same currency. - Currency swaps: These entail swapping both principal and interest between the parties, with the cash flows in one direction being in a different currency than those in the opposite direction. Source:"
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