Forex Swap Rates

Favorable Interest Rates on Your Currency Trades

  Long Swap Short Swap   Long Swap Short Swap
AUD/CAD 3.96 (5.17) GBP/CHF 1.35 (3.08)
AUD/CHF 5.31 (7.26) GBP/JPY 0.99 (3.96)
AUD/JPY 5.85 (8.47) GBP/NZD (15.40) 10.89
AUD/NZD (0.99) 0.36 GBP/USD 1.17 (1.43)
AUD/USD 5.58 (7.15) NZD/CAD 3.96 (5.50)
CAD/CHF 2.16 (2.86) NZD/CHF 5.22 (7.15)
CAD/JPY 2.34 (3.30) NZD/JPY 6.12 (8.25)
CHF/JPY (0.99) (0.88) NZD/USD 5.67 (7.15)
EUR/AUD (11.44) 8.64 USD/CAD (3.30) 2.16
EUR/CAD (4.51) 2.88 USD/CHF (0.11) (1.21)
EUR/CHF (0.11) (1.76) USD/CNH (75.10) (65.10)
EUR/GBP (0.99) 0.27 USD/DKK (4.62) (14.74)
EUR/JPY 0.54 (1.21) USD/HKD (0.55) (2.75)
EUR/NOK (39.71) 22.50 USD/JPY 0.27 (0.77)
EUR/NZD (13.53) 10.26 USD/MXN (154.00) 81.00
EUR/SEK (16.50) 9.50 USD/NOK (23.10) 17.10
EUR/USD 0.09 (0.11) USD/SEK (23.87) (0.99)
GBP/AUD (12.87) 9.09 USD/SGD (1.21) (1.32)
GBP/CAD (3.63) 2.61 USD/TRY (58.10) 53.10
  Long Swap Short Swap   Long Swap Short Swap
AUD/CAD 3.52 (5.64) GBP/CHF 1.20 (3.36)
AUD/CHF 4.72 (7.92) GBP/JPY 0.88 (4.32)
AUD/JPY 5.20 (9.24) NZD/CAD 3.52 (6.00)
AUD/NZD (1.08) 0.32 NZD/CHF 4.64 (7.80)
AUD/USD 4.96 (7.80) NZD/JPY 5.44 (9.00)
CAD/CHF 1.92 (3.12) NZD/USD 5.04 (7.80)
CAD/JPY 2.08 (3.60) USD/CAD (3.60) 1.92
CHF/JPY (1.08) (0.96) USD/CHF (0.12) (1.32)
EUR/AUD (12.48) 7.68 USD/CNH (81.10) (60.10)
EUR/CAD (4.92) 2.56 USD/DKK (5.04) (16.08)
EUR/CHF (0.12) (1.92) USD/HKD (0.60) (3.00)
EUR/GBP (1.08) 0.24 USD/JPY 0.24 (0.84)
EUR/JPY 0.48 (1.32) USD/MXN (168.00) 72.00
EUR/NOK (43.32) 20.00 USD/NOK (24.10) (16.10)
EUR/NZD (14.76) 9.12 USD/SEK (26.04) (1.08)
EUR/SEK (15.50) 8.50 USD/SGD (1.32) (1.44)
EUR/USD 0.08 (0.12) USD/TRY (62.10) 51.10
GBP/AUD (14.04) 8.08 GBP/CAD (3.96) 2.32
  Long Swap Short Swap   Long Swap Short Swap
AUD/CAD 3.96 (5.17) GBP/CHF 1.35 (3.08)
AUD/CHF 5.31 (7.26) GBP/JPY 0.99 (3.96)
AUD/JPY 5.85 (8.47) GBP/NZD (15.40) 10.89
AUD/NZD (0.99) 0.36 GBP/USD 1.17 (1.43)
AUD/USD 5.58 (7.15) NZD/CAD 3.96 (5.50)
CAD/CHF 2.16 (2.86) NZD/CHF 5.22 (7.15)
CAD/JPY 2.34 (3.30) NZD/CHF 5.22 (7.15)
CHF/JPY (0.99) (0.88) NZD/JPY 6.12 (8.25)
EUR/AUD (11.44) 8.64 NZD/USD 5.67 (7.15)
EUR/CAD (4.51) 2.88 USD/CAD (3.30) 2.16
EUR/CHF (0.11) (1.76) USD/CHF (0.11) (1.21)
EUR/GBP (0.99) 0.27 USD/CNH (75.10) (65.10)
EUR/JPY 0.54 (1.21) USD/DKK (4.62) (14.74)
EUR/NOK (39.71) (22.50) USD/HKD (0.55) (2.75)
EUR/NZD (13.53) 10.26 USD/JPY 0.27 (0.77)
EUR/SEK (16.50) 9.50 USD/MXN (154.00) 81.00
EUR/USD 0.09 (0.11) USD/NOK (23.10) 17.10
GBP/AUD (12.87) 9.09 USD/SEK (23.87) (0.99)
GBP/CAD (3.63) 2.61 USD/SGD (1.21) (1.32)
USD/TRY (58.10) 53.10

In forex trading, "swaps rates" refer to the interest rate differential embedded in currency trades. To put it more simply, consider how a forex trade works: you borrow one currency to buy another. For instance, if you are buying EUR/USD, you are borrowing US dollars, and with the proceeds, buying Euros. In doing so, you are paying interest on the US dollars you borrow, but earning interest on the Euros you bought.

The more significant the interest rate differential is between the two currencies involved in your trade, the more you will earn or pay via the swap rate. For instance, suppose you are buying a currency with a relatively high interest rate, like the New Zealand dollar (NZD), while selling a currency with a low interest rate, like the Japanese yen (JPY). In this scenario, the swap rate is in your favor, and thus you will earn a small amount of money each day. Conversely, if you are selling New Zealand dollars to buy Japanese yen (i.e. selling or "shorting" the NZDJPY pair), you will be paying a swap fee. See our swaps calculation page for a detailed example. 

As is the case with the exchange rate, brokers typically add on a spread to swap rates -- keeping some of the positive swap earnings for themselves and adding a bit on to negative swap charges. At ThinkForex, we keep our spreads minimal, so that traders can more easily succeed with negative swap trades and earn more on positive swap trades. The table below shows our current swap rate structure, which shows what you earn/pay per 100,000 units of the currency trade. The swap fees are small relative to the amount you can earn or lose via exchange rate fluctuations, but as they are applied daily, they can add up for traders holding long-term positions.

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