Economy of Bulgaria (574 euro) (December, 2017). The national currency is the lev (plural leva), pegged to the euro at a rate of 1.95583 leva for 1 euro. The lev is the strongest and most stable currency in Eastern Europe. The strongest sectors in the economy are energy, mining, metallurgy, machine building, agriculture and tourism. Primary industrial exports are clothing, iron and steel, machinery and refined fuels. The trading partners with largest contribution to the import/export are Germany, Italy, Romania, Turkey, Greece, Russia, France, Spain, Poland, Netherlands, China, Hungary and Belgium. Sofia is the capital and economic heart of Bulgaria and home to
Currency swap who will pass it on to the American company so it can pay its U.S. bondholders. At maturity, the American company will pay £100 million to the swap bank who will pass it on to the British company so it can pay its British bondholders. It is well recognized that traditional "textbook" theory does not price cross currency (basis) swaps correctly, because it assumes the funding cost in each currency to be equal to its floating rate, thus always giving a zero cross currency spread. This is clearly contrary to what is observed in the market. In reality, market participants