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Overview of swaps
Swaps refer to buying spot foreign exchange and selling forward foreign exchange in the same currency at the same time, or selling spot foreign exchange and buying forward foreign exchange in the same currency at the same time.

there are three types of swaps, namely spot-to-forward swaps, one-day swaps and forward-to-forward swaps. Among them, the spot-to-forward swap transaction refers to selling or buying forward foreign exchange of the same currency while buying or selling a certain spot foreign exchange, which is the most common transaction method in swap transactions, and the transaction is divided into pure overdue and scattered swap transactions according to different participants; One-day swaps can be divided into three types: today, tomorrow, the day after tomorrow and the day after spot. Forward-to-forward swap refers to buying and selling forward foreign exchange in the same currency but with different delivery periods.