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Pricing: For a floating-floating currency swap where only the exchange rate is hedged, a market. exchange rate (typically, the spot rate as of the effective date of the swap) is used to convert the. payment amounts of the local currency into the target currency. The same exchange rate is used.
Market Insights Â» Glossary Â» Pegging. Currency pegging is fixing a currencyâs exchange rate to that of another country. In an attempt to stabilise a countryâs currency, a countryâs government may create a fixed exchange rate, or a pegged exchange rate, to maintain the value of its currency. Pegging a currency provides benefits, such as minimising instabilities in economic activity, but can also cause problems with trade balance.