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A \u2018derivative\u2019 is a financial product the
value of which is derived from the value of
the underlying asset.
Derivatives are widely used in developed financial markets to speculate on currencies and financial assets.
Also used to hedge portfolio risk and hedging exposures by corporate finance managers.
d)Engineered products based on the
swap is an agreement between two or more
parties to exchange sets of cash flows over
a period in future.
An interest rate swap is an arrangement
whereby one party exchanges one set of
interest rate payment for another.
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