# 2 Year Swap Rate

50% respectively for the U. Three important calculations for interest rate swaps to be covered are: (1) pricing an at-market (or par) swap, (2) valuing an offmarket - swap, and (3) inferring the forward curve that is consistent with a sequence of at-market swaps. This continuous historical price chart for 10 Year Interest Rate Swap futures (NI, CBOT) is part of a huge collection of historical charts that covers decades of North America futures / commodity trading. 25% in dollars and 8% in Japanese yen. 50% S Strategy #3: Borrow $1,000,000 for one year at a fixed rate, and then renew the credit annually. Banks were happy. 15) An interest rate swap has three years of remaining life. Swap pricing is the determination of the initial terms of the swap at the inception of the contract. Dollar swaps with a maturity of two years, expressed as a percentage, that appears on the Reuters Screen ISDAFIX1 Page as of 11:00 a. 33 percent, the 5-year swap spread would be 2 basis points. Nov 18, 2019 · Detailed Quote for 2 Year USD Interest Rate Swap (!IRS2Y)) 1 Year ; 3. Feb 09, 2016 · Hull - Swaps Example 10. The average of the bid-o⁄er rate being exchanged for 6-month LIBOR in swaps of all maturities is currently 5% per annum with continuous compounding. The spread between the interest rates offered to X and Y is 0. WSJ Prime Rate Outlook. ICE Swap Rate, formerly known as ISDAFIX, is recognised as the principal global benchmark for swap rates and spreads for interest rate swaps. 7%, and 6% continuously compounded, respectively. five years), agreeing to exchange floating-rate payments based on LIBOR for a five year fixed rate. 4 * (30 year constant maturity swap rate - 2 year constant maturity swap rate - 0. As shown in. Greg Anderson - Elmer the Clep 770,955 views. 7980 percent and recently traded at 1. A Cross Currency Swap where both legs are floating rate is part of the Basis Swap product family. Bucket delta measures the impact of shifting the rates of a given bucket by one basis point, keeping the other buckets unchanged. 95 percentage points, the. Treasury bond yield (or equivalent local government bond yield for non-U. The current LIBOR rate at the beginning of the interest rate swap agreement is 4%. for qualifying swaps designated in a hedging relationship under Topic 815. 540 % pa in Nov 2010 and a record low of 2. For example, if you need to compare an interest rate of 12% p. Treasury yields and swap rates, including the benchmark 10 year U. Spot Starting (Fixed Rate only): 1 Year 2 Years All intervening years 30 Years. " The difference in the mortgage rates between a 20-year and a 30-year loan varies, but averages about one-quarter to one-half of 1 percent, says Walters. Interest Rates Swaps. An Interest Rate Swap where the interest rate on one leg is reset periodically but with reference to a market swap rate rather than LIBOR. For example, suppose the one-year government bond was yielding 2% and the two-year bond was yielding 4%. it pays out 1. "This acted as a catalyst for SWAP rates to rise, with the two-year SWAP rate increasing from 0. Canadian Dollar Forward Rates The chart on the right shows the U. Of course, if Institution #1 ends up paying an average interest rate of 2. 3197 + (30/10000. Swap spreads are based on LIBOR rates, the creditworthiness of the swap's parties, and other. The high street bank will offer borrowers this deal, the lowest fixed rate on the market, if. 5 % and receiving LIBOR annually. The one-year interest rate is 5. The Singapore Overnight Rate Average or SORA is the volume-weighted average rate of all S$ overnight cash transactions brokered in Singapore between 9am and 6:15pm. LATEST UPDATES. 7980 percent and recently traded at 1. The implied forward rate applied from Year One to Year Two: 1 2 − 1 0. Nov 27, 2019 · Moody’s CreditView is our flagship solution for global capital markets that incorporates credit ratings, research and data from Moody’s Investors Service plus research, data and content from Moody’s Analytics. Higher rates over the last 12 months compared to the average rates over the last 10 years serve as an indicator that the long term rate trend in 5 Year Treasury Rates is up. Th e present value factors are 0. The 1 and 2-year interest rates are 6% and 6. IBM and GE are both in the market for approximately $10 million of debt for a five year-period. 67% and the 2-year spot rate is 12% then the forward rate applicable for the period 1 year. The highest spreads for both currencies. 2 The Determination is effective immediately. Tracfone Wireless is America's #1 prepaid wireless provider. Jun 05, 2011 · Interest Rate Swaps With An Example Academic Explanation of the Concepts of Interest Rate Swaps. 540 % pa in Nov 2010 and a record low of 2. 8% per annum on fixed rate investments and 0. Note: The LIBOR quoted in the Wall Street Journal (WSJ LIBOR) is the LIBOR posted by the British Bankers' Association (BBA). Other Treasury Securities Resources: A long range forecast of the U. Finally, Gale meets with Client 2, who last year purchased an interest rate swap in which he pays fixed and receives floating. Yen to Dollar Forecast. ) real-time stock quotes, news and financial information from CNBC. Get updated data about UK Gilts. 75 per cent. Pricing Interest Rate Swaps using OIS swap pricing / OIS discounting. 3% lower than the average 1. 005 × 1 = 0. 05pc fixed-rate deal by Halifax. What is the value of the swaption per $1 notional amount. 16/$1,000 – 1 =. Notional principal amount = $1000. Determine the notional principals in euros and pounds for a swap with semiannual payments that willhelp achieve the objective. Maximum and minimum interest rates for every month. 6% with semi-annual compounding. House exchange with HomeExchange allows you to discover the world in a more authentic way by living like a local in the United States, Ireland, Portugal, or Berlin!. thefinancials. 31 30 Year Mortgage Rate 4. government securities. 0000, since it is out-of-the-money. Of course, if Institution #1 ends up paying an average interest rate of 2. 10 Year Treasury (US10Y:U. Establish a start date and a maturity date for the swap, and know that both parties will be bound to all of the terms of the agreement until the contract. government securities. From February 18, 2002, to February 9, 2006, the U. 18125 2 years SOR Rates 0. 9259 (one year) and 0. View the latest bond prices, bond market news and bond rates. The two-year swap rate implies that a two-year LIBOR bond with a coupon of 11% sells for par. At time 2 the 2- year zeros mature and you have to pay 1. What is the three year swap price? We first solve for the present value of the cost per three barrels, based on the forward prices:. Mumbai: Investors should enter interest rate swap contracts in India to profit as the cost of one-year borrowing climbs faster than that of two-year debt in the coming months, according to Morgan. Morgan Stanley currently offers a principal protected note that offers 8% per year for every day the 30yr CMS is greater than the 2 yr CMS AND the S&P 500 is over 675. Risk increases as the spread widens. It is also the exchange rate associated with the fixed portion of a currency swap. DESCRIPTION. , an interest rate differential for the two currencies over an agreed-upon period. 35 percent and the current yield on the 5-year Treasury note is 1. 5 Mbps, gaming at up to 8 Mbps. A ﬁscal year is the time between yearly settlement of ﬁnancial accounts. Th e present value factors are 0. Interest Rate Swap Tutorial, Part 3 of 5. •!A plain vanilla or generic swap is a fixed-for-. and Ethiopia, we can calculate the one year forward rate as follows:. Also keep in mind that these rates reflect the settlement conventions, so the one year rate is for an effective date of Nov 14, 2011 and termination of Nov 14, 2012. Brokers can submit applications for these mortgages until January 19. Note: The LIBOR quoted in the Wall Street Journal (WSJ LIBOR) is the LIBOR posted by the British Bankers' Association (BBA). So treat yourself to something new and enjoy up to 50% discount on select women's apparel!. 2 Years ; 1. S Strategy #2: Borrow $1,000,000 for three years at a floating rate of LIBOR + 2%, to be reset annually. 2 percent (2. ) real-time stock quotes, news and financial information from CNBC. Poker ist eines der bekanntesten und beliebtesten Casino Spiele weltweit. During the last three years, the settlement period will be one year. China’s CB: IRS: Fixed Interest Rate: Overnight SHIBOR: 2 Year data is updated monthly, averaging 2. at the start of the swap. 216 % pa from Nov 2000 to Nov 2018, with 217 observations. Requires a 20% deposit. Unlike ARM loans which can have widely swinging rates & monthly payments, there is no tension for the homeowner who uses a FRM because he knows exactly what amount constitutes the interest and also the principal payments. For example, assume you own a $50,000, 20-year, triple-A-rated municipal bond with a 5. Since ICE does not publish a weekly average of the 10-Year swap rate, mortgagees must calculate the weekly average using the prior week’s daily three-digit USD 1100 10-Year swap rate rounded to the nearest two decimal places for the preceding Monday through Friday. So how does this equate to -270 fx points? Example. Jarden Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. 6% with semi-annual compounding. Do companies incur additional costs when buying interest-rate swaps? An interest-rate swap does not involve any extra costs for the company if the loan and its concomitant interest-rate swap both run until the agreed maturity date. The rate on 10-year interest-rate swaps touched a record low relative to Treasury yields as balance-sheet constraints on bond dealers and corporate debt issuance undermined prices on U. Chart 1: NZ and US interest rates and the NZD/USD forward points. This swap allows hedgers to arrange a swap in advance, i. 5 million are possible. Oct 03, 2012 · Thus, due to these two conditions, it has become necessary to use OIS discounting to price interest rate swaps. The swap rate for a 2-year semi-annual payment swap equals 6. 25% per period. 261 % pa in May 2008 and a record low of -0. 5% and 3 year mortgages at 3. The swap spread on a given contract indicates the associated level of risk. It was weird when I was in her ass and he was in her pussy to feel his dick rubbing against mine. The interest rate earned on the loan is variable at LIBOR plus 2 percent. The floating rate depends on a reference index or rate such as 3 month LIBOR. rate swap is a. The Securities reference (i) the 30 Year USD Constant Maturity Swap Rate and (ii) the 2 Year USD Constant Maturity Swap Rate (appearing on Reuters Screen ICESWAP1), which is provided by ICE Benchmark Administration Limited. But also yes, I was right that the 3-year zero rate has nothing to do with it. 5 million are possible. Sellers tend to view. The spread between the interest rates offered to X and Y is 0. 05-Nov-2019. The swap rate for a 2-year semi-annual payment swap equals 6. Interest rate of 2. Nov 09, 2019 · What are known as ‘swap’ rates, the rates upon lenders price their fixed-rate deals, have been consistently low for some time, with five year money being cheaper than two year money at one stage. The swap is determined by the interest rate differential of the two currencies in the pair that you are holding and is calculated according to whether you position is long or short. 84% Change From One Year Ago: 30. Feb 21, 2013 · 1 month forward rate is 2. 3 Month LIBOR Prediction. 7%, and 6% continuously compounded, respectively. A bank entered into a three-year interest rate swap for a notional amount of USD 250 million, paying a fixed rate of 7. 0000, since it is out-of-the-money. 00 30 Year Treasury Bond 2. This page provides Turkey credit default swap historical data, Turkey CDS spread chart, Turkey CDS spread Investing and Data. 5%) × 1 million = $5,000. Pensford is the industry leader for all things interest rate related. The long end of the curve is constructed from observed quotes of swap rates (out to 10 years or more). What is the value of the swaption per $1 notional amount. The 1-year effective annnual interest rate is 6. It represents the mid-price for interest rate swaps (the fixed leg), at particular times of the day, in three major currencies (EUR, GBP and USD) and in tenors ranging from 1 year to 30 years. While one can try to account for risk premiums and extract actual inflation expectations from market prices—for example, by using models as in Christensen, Lopez, and Rudebusch (2010)—we use raw, unadjusted market rates. The interest rates do provide the basis for the price and interest rates of all kinds of financial products like interest rate swaps, interest rate futures, saving accounts and mortgages. A swap rate is the rate of the fixed leg of a swap as determined by its particular market and the parties involved. 05pc fixed-rate deal by Halifax. The one year forward rate represents the one-year interest rate one year from now. SWAP Short = (-0. We have an established reputation that allows us to source and restructure lending that others simply can’t. Dollar (USD) Euro (EUR) Sterling (GBP) Yen (JPY) 2. A bank trades swaps where a fixed rate of interest is exchanged for 12-month LIBOR with payments being exchanged annually. Swap rates plummet - looks like they will soon be at the lowest level seen since 2009 - likely they will plunge to a new record low. About US Generic Govt 2 Year Yield Yields are yield to maturity and pre-tax. 35 percent and the current yield on the 5-year Treasury note is 1. 50% in dollars and 7% in Japanese yen. Swap spreads are based on LIBOR rates, the creditworthiness of the swap's parties, and other. Conversely, a yield-based put option holder will profit if, by expiration, the interest rate has declined below the strike price less the premium. House exchange with HomeExchange allows you to discover the world in a more authentic way by living like a local in the United States, Ireland, Portugal, or Berlin!. What is the fixed rate of interest that will make the value of the swap equal to zero? Round your answer to 3 decimal points (in decimal form, not in percentage). 05-Nov-2019. The Money Market is where the Benchmark Interest Rates are set each business day at 10:15am. Interest Rate Swaps 2 Description of a Swap •!An interest rate swap is a contract which commits two counterparties to exchange, over an agreed period, two streams of interest payments, each calculated using a different interest rate index, but applied to a common notional principal amount. The 1 year forward rate is 30 You do NOT add that to the current spot of 1. Banks were happy. Just another convenient way for banks to clip a few extra basis points because when a CMBS trader hedges the rate, he is using the 10yr swaps and not the Treasury. practice, swap rates are often used as an indicator of what markets consider being the prevailing risk-free yield2. instruments, the futures up to 2 years, swap rates up to 5 years, swap rates up to 10 years, and other. What is a 'Swap Rate'. 5%, respectively. The second party undertakes the reverse arrangement. Interest Rate Swap: An interest rate swap is an agreement between two counterparties in which one stream of future interest payments is exchanged for another based on a specified principal amount. 30 Yr Mortgage Rate Outlook. This document outlines the FINCAD functions provided for inflation index-linked derivatives. The link to the IMF exchange rate website is provided as a convenience to the user of this website. Libor Rates are available Here. The yield on a Treasury bill represents the return an investor will receive by holding the bond to maturity. But the above forward rate needs to be divided by 10000 (and this depends on currency pair) to get the number you add to the spot rate. In order to more accurately quote interest rates, provide transparency and create more efficiency in lending and borrowing loan terms are more frequently being expressed in relation to the 5 year and 10 year SWAP Index. From wikipedia I found out how to do it, and I'll show the calcs, but you may have trouble relating them to your study material. 5% (R2) (APR) calculate the one-year - Answered by a verified Financial Professional We use cookies to give you the best possible experience on our website. 5 percent per year. Medium Term Interest Rate Swaps (IRS) cover maturities from two to ten years while Long Term IRS cover maturities from 10 to 60 years. Nov 18, 2019 · Detailed Quote for 2 Year USD Interest Rate Swap (!IRS2Y)) 1 Year ; 3. Basis swaps: Where the two sides pay each other rates determined by different benchmarks. 06 is the current 2. The traditional tax swap involves two steps: (1) selling a bond that is worth less than you paid for it and (2) simultaneously purchasing a bond with similar, but not identical, characteristics. The 1-year effective annnual interest rate is 6. Remaining Fixed Rate CFs $2. The methodology of CDOR is as follows: For each maturity band (1-month BA, 2-month BA, 3-month BA, 6-month BA, 1-year BA and call markets), the high and the low rates taken from the survey are removed and a simple arithmetic average is calculated for the remaining survey rates. Notional principal amount = $1000. An Interest Rate Swap where the interest rate on one leg is reset periodically but with reference to a market swap rate rather than LIBOR. To do this, we add 50bp to the 5-year par rate (leaving all of the other par rates unchanged), and compute the effect on the spot rates, then subtract 50bp from the 5-year par rate (again, leaving all of the other par rates unchanged), and compute the effect on the spot rates. Me and my wife were about to swap with another couple after a similar card game but the other wife passed out drunk so me and the other guy just fucked my wife together. Today's LIBOR Forecast. You would solve the formula (1. Coupon is paid quarterly. 16/$1,000 – 1 =. The Treasury contract would be an agreement between two separate parties to exchange one stream of payments (i. In response to the weaknesses identified in the setting of financial benchmarks such as the London Interbank Offered Rates (LIBOR), the global regulatory community has been involved in a program to strengthen financial benchmarks. With Peyton List, Jacob Bertrand, Claire Rankin, Darrin Rose. Do companies incur additional costs when buying interest-rate swaps? An interest-rate swap does not involve any extra costs for the company if the loan and its concomitant interest-rate swap both run until the agreed maturity date. Lehman Brothers | Inflation Derivatives Explained July 2005 6 This is clear by looking at the different markets. 82 91 Day Treasury Bill 2. Bucket delta measures the impact of shifting the rates of a given bucket by one basis point, keeping the other buckets unchanged. thefinancials. 0000, since it is out-of-the-money. 05pc fixed-rate deal by Halifax. Swap Terms for Fixed Rate Payer: Pay 6 percent fixed for 3 years, receive floating. 6%, respectively. In order to receive the proprietary data from this website, you acknowledge and agree that you shall not disclose, transmit, distribute or disseminate, either directly or indirectly through any third parties, the market data and information contained herein to any person or entity without the express written consent of ICE Data Services. But the above forward rate needs to be divided by 10000 (and this depends on currency pair) to get the number you add to the spot rate. You would solve the formula (1. " The difference in the mortgage rates between a 20-year and a 30-year loan varies, but averages about one-quarter to one-half of 1 percent, says Walters. 75M on original swap + $100M Take the PV of these CFs at the new fixed interest rate for a 2-year swap of 4. On 1 January 20X4, XYZ Ltd borrows £100 million under a 3 year loan which accrues interest at a floating rate of the London Interbank Offered Rate (LIBOR) plus 5%. Explain how a firm that has issued $1 million of long-term bonds with a fixed 6% interest rate can convert its fixed-rate debt into floating-rate debt. The interest rate swap arose in the early 1980s. 6% Company Y6. gov For example, if the current market rate for a 5-year swap is 1. Time three years 4. Es gibt eine Menge Varianten, wie man dieses spannende Spiel spielen kann. It also helps borrowers and investors to alter cash flows in anticipation of future movements in interest rates or the yield curve. The market status window is an indication regarding the current technical availability of the trading system. Inflation indexed bond (IIB) rates for 2016, 2025, 2030 and 2035: the indicative 11. 59pm to account for weekends. 2% in pounds. 936 trillion in interest rate swaps and US$2. From February 18, 2002 to February 8, 2006, Treasury published alternatives to a 30-year rate. Multiply the result from Step 2 by the difference between the length of time for the desired interest rate and the length of time for the interest rate with shortest length of time. The one-year LIBOR rate is 3% and the forward rate for the one- to two-year period is 3. Current Treasuries and Swap Rates. Interest Rates ICAP is the leading broker across the entire range of interest rate products, ranging from exotic options to short and long-term interest rate swaps. The companies have been quoted the following interest rates, which have been adjusted for the impact of taxes: YenDollars Company X5. 16 a year from then. The types of fixed loans available in the market are 10 year fixed rates as well as 15, 20 and 30 year fixed rates. 380 trillion 1999 year-end total consisted of US$43. All rates are indicative only. This page provides Turkey credit default swap historical data, Turkey CDS spread chart, Turkey CDS spread Investing and Data. A swap in which the floating rate index is the three-month US Bankers’ Acceptance rate would have an index mismatch risk if, for instance, the best swap available at the time is the three-month US LIBOR (London Interbank Offered Rate for US dollars). It carries a coupon equal. A pays B 8% fixed 2. Rates are for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rates collected at 11:00 a. 84% Change From One Year Ago: 30. Currency U. USD LIBOR interest rate - US Dollar LIBOR The US Dollar LIBOR interest rate is the average interbank interest rate at which a large number of banks on the London money market are prepared to lend one another unsecured funds denominated in US Dollars. 5-yr Investment Grade Corporate CDS Markit (bp) 50 70 90. It is reset after every coupon payment based on that swap curve. Note: The LIBOR quoted in the Wall Street Journal (WSJ LIBOR) is the LIBOR posted by the British Bankers' Association (BBA). This is lower than the long term average of 2. three year fixed rate bonds and four year fixed rate bonds are also available, with five year fixed rate bonds offering the possibility of the best rates. 4%, the theoretical cost of the EUR/USD currency swap to the European company is 2% (i. RBC Fixed Income Notes are an important part of a portfolio because they provide investors with: Repayment of principal at maturity subject to the credit risk of the issuer guaranteed by Royal Bank of Canada or other highly rated issuers. The cash flows payable under the loan will therefore fluctuate as interest rates change. 35 percent and the current yield on the 5-year Treasury note is 1. The Singapore Overnight Rate Average or SORA is the volume-weighted average rate of all S$ overnight cash transactions brokered in Singapore between 9am and 6:15pm. 03, lowest since January and Swaps along the curve from 1 to 15 years run from 2. At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Conversely, a yield-based put option holder will profit if, by expiration, the interest rate has declined below the strike price less the premium. Dollar and the Ethiopian Birr with a spot exchange rate of USD-ETB=9. banks, and is effective 10/31/19. - UK swap rates Linkmaster Finance can source highly competitive mortgage finance rates for property investors and developers. 2-year by 5-year). May 21, 2014 · Variable rates loans coupled with interest-rate swaps are often cheaper than fixed-rate loans. The long end of the curve is constructed from observed quotes of swap rates (out to 10 years or more). Find Current LIBOR Swaps and Today's Key Rates at Mortgage EquiCap, the value-enhanced commercial mortgage broker. 55% (23rd April 2013) to a recent peak of 1. Treasuries, Treasuries and Swap Spreads, Libor Index and Prime Rate, and Swap Spreads. chapter swaps practice questions problem explain why bank is subject to credit risk when it enters into two offsetting swap contracts. These rates are as of Nov 10, 2011, and reflect USD par swap rates for semi-annual LIBOR swaps. Category Education; Show Kevin O'Leary's 5 Tips For 20 Year Olds. Treasury Securities. Data is updated daily and includes historical comparisons. A swap rate, which corresponds with the fair value entered in accounting records, is determined as the sum of a spot rate and swap points, i. Nov 26, 2019 · The Euribor rates are considered to be the most important reference rates in the European money market. 3 Month LIBOR Prediction. Indices have increased in precision as of 5/20/2008 to 4 decimal places. It should be 1. Interest rate swaps have become an integral part of the fixed income market. AUD/USD Prediction. Calculate the first net payment. 0%, the 2-year interest rate is 6. A pays B 8% fixed 2. The spread between the interest rates offered to X and Y is 0. 86438 5 years SOR Rates 1. If on the other hand interest rate falls to 5%, company ABC would pay Bank Z the differential 1%. Swap rates plummet - looks like they will soon be at the lowest level seen since 2009 - likely they will plunge to a new record low. 2) because, according to their agreement, they swapped interest rates. Current 10 Year Treasury Rate is 1. You can borrow at most 1,000,000 or the equivalent pound amount, i. 36238 3 years SOR Rates 0. The average of the bid-o⁄er rate being exchanged for 6-month LIBOR in swaps of all maturities is currently 5% per annum with continuous compounding. Japan’s Interest Rate Swap: Yen: 2 Year data is updated monthly, averaging 0. The notional swap amount is 100,000 for both settlement periods. 00 lacs and above, the lower CIC score will be considered from either of the two CICs to get the interest rate benefit as stated above. Nov 29, 2019 · 10 Year Treasury Rate chart, historic, and current data. The swap rate for metals can be calculated in the same way as for currency pairs. Solve for the 2-year zero rate. During the last three years, the settlement period will be one year. The one-year LIBOR rate is 3% and the forward rate for the one- to two-year period is 3. Over the past month, developments have caused us to. 97 10 Year Treasury Note 2. ICE SWAP RATE ICE Swap Rate, formerly known as ISDAFIX, is recognised as the principal global benchmark for swap rates and spreads for interest rate swaps. swaps) for the same maturity. Other Treasury Securities Resources: A long range forecast of the U. Example of use of interest rate swaps:. Since the start of the year the spread between the 5-year EUR swap and 5-year German Government bond has widened from around +47 bps to +51bps, it has however been as low as +30bps and peaked at. 1 in Hull's Chapter 7. About US Generic Govt 2 Year Yield Yields are yield to maturity and pre-tax. How to use swap in a sentence. 09 3 Month LIBOR (USD) 2. Availability of swap rates Swap rates are widely available in different currencies, however not for all currencies. The current Swap Rate Spread Close runs 1. The bid-ask midpoint rates shown apply to large-volume transactions in the interbank market around noon time (Eastern) on Monday, March 18, 2019. LIBOR rate forecast for october, november, december, january, february, march, april, may, june, july, august, september. 0000, since it is out-of-the-money. You can find our swap points for different trading instruments in our Contract Specifications (Swap Short and Swap Long). EUR/USD Forecast. Jul 25, 2012 · The fixed rate on a plain vaninilla currency swap in pounds is 7. The 1 and 2-year interest rates are 6% and 6. In an interest rate swap agreement, one party undertakes payments linked to a floating interest rate index and receives a stream of fixed interest payments.