1. Swap refers to buying spot foreign exchange in the foreign exchange market 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, that is to say, merging a spot and a forward business in the same transaction, or merging lending business in one business.

2. In swap transactions, the difference between spot exchange rate and forward exchange rate, that is, premium or discount, is called swap exchange rate. Swap, also known as swap, refers to a transaction that two parties exchange with each other in a certain period of time in the future according to a pre-agreed agreement.