Non-deliverable swap (NDS) - Financial definition
Financial acronyms
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Concise definition of the term non-deliverable swap
A non-deliverable swap is a currency swap which involves at least one currency that is restricted or not convertible.
Comprehensive definition of the term non-deliverable swap
An NDS is so-called because there is no delivery of the two currencies involved, whereas in a classical currency swap there is physical exchange of the amounts in the involved currencies.