In a foreign exchange swap transaction, the parties agree to buy or sell a certain amount of foreign currency at a fixed rate with a fixed, spot or future date and to exchange the same currencies in the opposite direction at a later date.

A foreign exchange swap can be understood as a combination of a spot transaction and a forward transaction (fx forward) or as two forwards transactions.

foreign exchange swap (swap) = spot or forward transaction + forward transaction in the opposite direction

  • A foreign exchange swap can be an effective means for companies with foreign currency receivables and payables at different times to avoid losses from adverse movements in the exchange rate.
  • The maturity is typically within a year, with the possibility of a maturity beyond one year in individual cases.
  • Similar to spot transactions and forward foreign exchange transactions, in the case of an existing, unaccounted foreign exchange swap, the client has the possibility to roll over his obligations. If such scrolling results in the original maturity date being rescheduled to a more distant date, it is called a rollover, while if it is to change it to an earlier date, it is called a rollback. The (total) nominal value of the scrolling transaction(s) shall not exceed the nominal value of the previous rollover transaction.
  • A foreign exchange swap transaction can be concluded in a physical delivery form for all currency pairs for which the bank quotes a foreign exchange rate.


  • If market developments are favourable to you, you may be protected against arbitrary changes in the price of the underlying currency in an unfavourable direction.
  • You have the option to close the foreign exchange swap during the term with a reverse trade with net settlement at maturity.
  • By entering into a foreign exchange swap, you have the option to roll forward (further) or backward your existing, as yet unaccounted for, spot transactions, forward foreign exchange transactions and foreign exchange swaps.


  • The transaction entails a performance obligation: you are obliged to buy/sell at the fixed exchange rate even in case of lower/higher maturity exchange rates than the fixed exchange rate, i.e. you may realise unlimited exchange rate losses.
  • If you close the deal with a reverse trade during the term, you may incur unlimited losses depending on the current market situation.

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Useful documents

These documents in English language to the person concerned shall be for information purposes only. OTP Bank Plc shall fulfil its obligations imposed by the legal regulations or requirement of supervisory authority by the documents in Hungarian language.
In the event of any discrepancy between the English language and Hungarian language versions, the Hungarian language version shall prevail.

Information on the suspension of the market making obligation (available only in Hungarian)

Commodity swap

Cross-Currency Interest rate swap

Dual currency structured investment

Foreign exchange option

Foreign exchange swap

Forward deal in precious metals (gold and silver) transaction

Forward foreign exchange

Interest rate option

Interest rate swap

Long-Term Investment Account T+3 FORWARD

Spot securities transaction

Stock exchange futures

Stock exchange spot transaction

Securities Lending Transaction

Foreign exchange Orders

Subordinated Securities

EMIR Announcement

EMIR Information for Clients

Notice on the uEMIR Notice se of LEI CODES

Disclosure of information pursuant to Article 11 (11) of the EMIR Regulation

Information for Clients on MiFID

Global Markets ex-ante cost transparency information (available only in Hungarian)

The data to be published on the quality of execution of transactions according to Commission Delegated Regulation (EU) 2017/575 (available only in Hungarian)

Information on the identity of execution venues and on the quality of execution according to Commission Delegated Regulation (EU) 2017/576 (available only in Hungarian)

Systematic internaliser - quotes

Notice on the use of LEI CODES

Direct and indirect clearing services in respect of certain derivative transactions announcement

Key Information Documents – PRIIPs KIDs

Notice - on the impacts of the pandemic emergency on the money and capital markets

Notice - on the collateralisation of long-term investment combined securities account and long-term investment securities account - cash accounts

Notice - about transactions in chinese yuan (RENMINBI)

Terms and conditions and Announcements

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