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RIL borrowed $100 million from Citi Bank NY @4% for 5 years. It goes to SBI and converts the USD loan to INR loan. The

RIL borrowed $100 million from Citi Bank NY @4% for 5 years. It goes to SBI and converts the USD loan to INR loan. The applicable interest rate for INR is 8%. Find the value of the swap.

Current Exchange rate is $1=45.00

After one year $1= Rs.50 Interest rate for USD = 3% and INR= 10%

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