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currency swap question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › currency swap question

  • This topic has 3 replies, 2 voices, and was last updated 1 month ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 23, 2022 at 7:01 am #675049
    zoe1233
    Participant
    • Topics: 4
    • Replies: 8
    • ☆

    Hi Tutor, hope you are well!

    I have a question regarding 2017JuneQ3a, I understand the meaning of the following sentence and the meaning of exchange control to the company, but I don’t understand how it is a disadvantage of currency swap and how the control is associated with currency swap?

    It suggests the drawback is that “If the government decides to impose exchange controls in Wirtonia, Buryecs Co may not be able to realise the receipt at the end of Year 3, but will still have to fulfil the swap contract.”

    Thanks in advance!

    December 24, 2022 at 8:28 am #675066
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    To fulfil the contract they will have to convert money at the end of the swap.

    However if the government imposed exchange controls then that could mean that they were not allowed to convert money.

    December 25, 2022 at 3:49 am #675083
    zoe1233
    Participant
    • Topics: 4
    • Replies: 8
    • ☆

    thanks John, appreciate it!

    December 25, 2022 at 9:09 am #675087
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    You are welcome 🙂

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