Here’s a useful, concise write-up on the (often referred to in finance as a CZK Swap or Czech Koruna Interest Rate Swap ). What is a Czech Swap? A Czech Swap is an over-the-counter (OTC) interest rate derivative contract where two parties agree to exchange cash flows denominated in Czech Koruna (CZK) . Typically, one leg pays a fixed interest rate , and the other leg pays a floating interest rate (usually based on PRIBOR – Prague Interbank Offered Rate).
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