An example of a foreign currency swap is when a loan denominated in one currency is swapped for a loan denominated in another currency.

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This is an accurate description of a foreign currency swap, where two parties agree to exchange principal and interest payments on two loans denominated in different currencies. It is a common strategy used by multinational corporations and banks to manage currency risk and take advantage of interest rate differentials between countries.

An Example of a Foreign Currency Swap Is When a Loan