Cross-currency swaps are widely used by banks to manage the exchange rate risk on their foreign debt.

Name: Cross-currency swaps are widely used by banks to manage the exchange rate risk on their foreign debt.
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Cross-currency swaps allow banks to exchange fixed or floating interest rate payments in different currencies, which can help them hedge against fluctuations in exchange rates on their foreign debt. This is a common risk management technique used by banks.

Cross-Currency Swaps Are Widely Used by Banks to Manage the Exchange