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Consider a quarterly-pay currency swap where Party A pays London Interbank Offered Rate (LIBOR) on $1,000,000 and Party B pays 4% on 900,000 euros. Current LIBOR is 3% and at the end of 90 days it is 4%. Which of the following statements regarding the first settlement date is most accurate? A. Party A must make a payment of $10,000. B. The payments made depend on the exchange rate. C. Party A must make a payment of $7,500. |