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Which of the following statement about currency swaps is most accurate? In a currency swap, fixed rate payments are traded for variable rate payments on

Which of the following statement about currency swaps is most accurate?

In a currency swap, fixed rate payments are traded for variable rate payments on a single currency notional amount.

In a currency swap, only net interest payments are made.

In a currency swap, the notional principal is actually swapped twice, once at the beginning of the swap and again at the termination of the swap.

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