Relative to interest rate swaps, currency swaps:

a.have lower default risk because in currency swaps, the exchange of principals is notional.

b.have greater default risk because in currency swaps, the exchange of principals is notional.

c.have lower default risk because in interest rate swaps, the exchange of principals is notional.

d.have greater default risk because in interest rate swaps, the exchange of principals is notional.

e.have the same default risk because in both, default by one party automatically suspends the payment obligations of the counterparty.