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Consider a currency swap in which Party A pays 180-day London Interbank Offered Rate on $1,000,000 and Party B pays the Japanese yen riskless rate on 130,000,000 yen. Which of the following statements regarding the terms required at the initiation of the swap is CORRECT? A. Party A must pay 130,000,000 yen and receive $1,000,000. B. An exchange of principal amounts is not required at the initiation of the swap. C. Party A must pay $1,000,000 and receive 130,000,000 yen. |