A currency swap with no notional amount can be used to synthetically convert a bond issued in one currency into a bond issued in another currency.

Name: A currency swap with no notional amount can be used to synthetically convert a bond issued in one currency into a bond issued in another currency.
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Question

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A currency swap requires a notional amount to exchange cash flows in different currencies, which is essential for converting the currency exposure of a bond.

A Currency Swap with No Notional Amount Can Be Used