Swap Rates

(Fees indicated below are previous day's rates)
Currency Pair Long Base Short Base
ALLUSD -9.46 6.78
AUDCAD 2.64 -5.92
AUDCHF 5.44 -8.62
AUDJPY 5.26 -8.40
AUDNZD -3.69 0.68
AUDUSD 4.90 -8.00
CADCHF 1.21 -4.21
CADJPY 1.03 -4.00
CADSGD 0.00 0.00
CHFDKK -2.29 -1.53
CHFHUF 0.00 0.00
CHFJPY -1.94 -1.47
CHFNOK -6.15 2.25
CHFPLN 0.00 0.00
CHFSEK -2.91 -0.60
CHFSGD 0.00 0.00
CUCUSD -1.94 -1.97
CULUSD 4.22 -12.93
DAXEUR -15.73 -9.07
DKKSEK -0.44 -0.19
ESXEUR 0.94 -4.26
EURAUD -11.95 7.70
EURCAD -5.98 1.65
EURCHF -2.03 -2.15
EURCZK -1.19 -3.01
EURDKK -2.72 -1.92
EURGBP -5.22 -1.55
EURHKD 0.00 0.00
EURHUF -6.71 0.98
EURILS -3.55 -2.01
EURJPY -2.29 -1.85
EURNOK -7.37 2.64
EURNZD -14.86 10.93
EURPLN -11.85 7.35
EURSEK -3.47 -0.80
EURSGD 0.00 0.00
EURTRY -32.63 27.38
EURUSD -2.81 -1.27
EURZAR 0.00 0.00
GBPAUD -12.76 7.46
GBPCAD -5.20 -0.19
GBPCHF -0.21 -5.01
GBPDKK -1.07 -4.71
GBPHUF 0.00 0.00
GBPJPY -0.54 -4.62
GBPNOK -6.96 1.05
GBPNZD -16.44 11.55
GBPPLN -12.62 7.01
GBPSEK -2.02 -3.30
GBPSGD 0.00 0.00
GBPTRY 0.00 0.00
GBPUSD -1.19 -3.89
HKDJPY 0.00 0.00
LCOUSD -11.37 6.21
NGCUSD -1.17 -0.85
NILUSD -8.61 2.92
NOKJPY 0.00 -0.01
NOKSEK 0.16 -0.75
NZDCAD 4.32 -7.29
NZDCHF 6.83 -9.70
NZDDKK 0.00 0.00
NZDJPY 6.66 -9.51
NZDSEK 5.92 -8.85
NZDSGD 0.00 0.00
NZDUSD 6.34 -9.16
OILUSD 10.88 -18.53
PBLUSD -4.41 1.58
SEKJPY 0.00 0.00
SGDHKD 0.00 0.00
SGDJPY 0.00 0.00
SMICHF -3.62 -3.95
TRYJPY 0.00 0.00
USDBRL -11.79 -0.01
USDCAD -3.91 0.73
USDCHF -0.91 -2.17
USDCNY -7.98 0.13
USDCZK -0.27 -2.82
USDDKK -1.43 -1.99
USDHKD -1.82 -1.95
USDHUF -4.46 0.21
USDILS -2.06 -2.06
USDINR -67.22 14.94
USDJPY -1.10 -1.94
USDKWD -3.60 1.58
USDMXN -10.66 2.32
USDNOK -4.97 1.47
USDPLN -8.37 5.06
USDRUB -22.16 18.34
USDSAR -1.77 -1.77
USDSEK -2.00 -1.14
USDSGD -1.74 -1.34
USDTRY -24.18 20.30
USDZAR -18.51 12.42
XAGAUD 0.00 0.00
XAGCAD 0.00 0.00
XAGCHF 0.00 0.00
XAGEUR 0.00 0.00
XAGGBP 0.00 0.00
XAGTRY 0.00 0.00
XAGUSD -4.43 -1.38
XAUAUD 0.00 0.00
XAUCAD 0.00 0.00
XAUCHF 0.00 0.00
XAUEUR 0.00 0.00
XAUGBP 0.00 0.00
XAUTRY 0.00 0.00
XAUUSD -3.28 -2.55
XPDUSD -3.29 -2.09
XPTUSD -6.23 -2.97
ZNLUSD -3.29 0.32
What is a swap rate?
Swap rates, also known as overnight or rollover rates, are debits or credits, either earned or paid for holding a position overnight. Swissquote settles overnight positions at 23:00 CET using market accepted, interbank swap rates.

Where do these rates come from?
Institutions that deal in FX put out daily swap rates - prices they are willing to exchange currencies at on a given day. Institutions publish swap rates based on their own risk-management analysis and on market activity. Swissquote's swap rates are essentially the interbank fee for positions held overnight and are expressed in USD/100'000 lot, with a separate rate for each currency pair.

Why interbank rates rather than benchmark rates?
Other brokers may continue to offer their overnight rates using an old method that applies benchmark rates based on interest-rate differentials between central banks. Swissquote believes in maximum transparency and our method, more so than the benchmark method - aligns itself with the market daily. The interbank swap rate further takes into account recent liquidity, market dynamics and volatility on a given currency pair.

Synthetic rollovers for easy account statements
Swissquote settles its rollovers synthetically - meaning positions are not closed and reopened overnight. Instead, a debit/credit is applied to a trader's statement as a separate line item, making for clear and easy evaluation. Swissquote applies a triple swap Wednesday evenings to account for weekend rollovers.

Please note: Rates applied will be visible on the Swissquote website after 23:00 CET and updated after every end of day process.
 
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Copyright © 2014 Swissquote. All rights reserved.
Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.