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yx9881 · 2020年03月12日

问一道题:NO.PZ2018113001000029

问题如下:

A US company needs to raise ¥20 million because it is planning an expansion into China. It wants to issue dollar-denominated bonds and convert the dollars to Chinese yuan by a currency swap. The company believes that interest rates in both countries are increasing. Which of following statements is correct about swap?

选项:

A.

The company should use a swap with a floating rate on interest paid(¥)and fixed rate on interest received($).

B.

The company should use a swap with a fixed rate on interest paid($)and floating rate on interest received(¥).

C.

The company should use a swap with a fixed rate on interest paid(¥)and floating rate on interest received($).

解释:

C is correct.

考点:用currency swap转换loan的币种

解析:

公司现在是美元本金的loan,想转成人民币本金的Loan,因此应该进入付美元本金,收人民币本金的互换,这样就可以将本金转成人民币。

该互换在期间的时候需要支付人民币的利息,收到美元的利息(与本金方向相反)

因为预期两国的利率都会上升,所以应该选择支付的利息(人民币)为固定的,收到的利息(美元)为浮动的。

提问也没说清楚, 是swap的期间现金流交换啊?

1 个答案

xiaowan_品职助教 · 2020年03月12日

嗨,爱思考的PZer你好:


同学你好 ,因为这道题选项中提及的都是期间interest的交换,所以我们就要分析期间的现金流情况哈。


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