The Swap rate is defined as the overnight interest rate that is calculated and then added or deducted to on an open FX position that is held overnight.

The Swap rate is often refered to as a “Roll” or “Rollover-Rate” and is calculated based on the interest rate differential between the two currencies in the open FX Position. For example the Swap rate for a EUR/USD position is the difference (positive or negative) in the Interest Earned on the Long and Short side of the FX Position.

Things to know about Swap Rates

Swaps or ‘ Rolls’ are applied only to FX Positions that are held overnight.

An overnight position is any trade that is opened before 00:00 Hrs (on the TaipanFX trading platform) and held over midnight until the following trading day.

Swaps or ‘ Rolls’ are the adjustments (credits or debits) that are applied to each individual position held overnight and reflect the cost of “Rolling” settlement to the next day. Effectively they are the interest earned or paid for holding a position for more than one day. The adjustments are applied at the end of each TaipanFX trading day. That is 00:00 Hrs according to the Platform (this is sometimes referred to as ‘ Server Time’ ).

To take into consideration the open positions that will be “Rolled” over the weekend; It is the industry convention to apply a 3-Day Swap Rate (triple the daily adjustment) as a Credit or a Debit for overnight positions held at 00:00 on Wednesday.

Each currency pair has a different Swap Rate. This is because the interest rates across the world change frequently and are not uniformed across every currency. Some offer high, low, negative or no interest rate.

It is important to understand that a Swap or ‘ roll’ is always measured as 100,000 units per currency (1.0 standard lot) and applied daily to positions held overnight.

Depending on the type of position (Long or Short) and the Interest rate differential between the Currency Pairs involved in the FX Position; it is possible that an open position may earn Positive Swaps or carry Negative Swap rates.

TaipanFX’ s electronic trading platforms automatically converts swap rates, calculated in points, into user account’ s base currency.

Overnight Swap Rates

Currency Pair cTrader (pips)

Long

Short MT4 (points)

Long

Short
AUDCAD 0.31 -0.6 3.1 -6
AUDCHF 0.46 -0.74 4.6 -7.4
AUDDKK 2.71 -4.31 27.1 -43.1
AUDJPY 0.57 -0.85 5.7 -8.5
AUDNZD -0.35 0.02 -3.5 0.2
AUDSGD 0.55 -0.97 5.5 -9.7
AUDUSD 0.48 -0.75 4.8 -7.5
CADCHF 0.1 -0.37 1 -3.7
CADJPY 0.13 -0.42 1.3 -4.2
CHFJPY -16 -13 -160 -130
CHFSGD -0.38 -0.14 -3.8 -1.4
EURAUD -1.14 0.85 -11.4 8.5
EURCAD -0.48 0.18 -4.8 1.8
EURCHF -0.04 -0.23 -0.4 -2.3
EURDKK -0.68 -1.32 -6.8 -13.2
EURGBP -0.19 -0.07 -1.9 -0.7
EURHKD 0.03 -0.65 0.3 -6.5
EURHUF -299 17 -2990 170
EURJPY -0.04 -0.24 -0.4 -2.4
EURNOK -3.67 2.34 -36.7 23.4
EURNZD -1.5 1.17 -15 11.7
EURPLN -3.31 1.67 -33.1 16.7
EURSEK -2.51 1.55 -25.1 15.5
EURSGD -0.26 -0.24 -2.6 -2.4
EURTRY -8.3 7.48 -83 74.8
EURUSD -0.11 -0.13 -1.1 -1.3
EURZAR -50 32 -500 320
GBPAUD -1.22 0.89 -12.2 8.9
GBPCAD -0.46 0.09 -4.6 0.9
GBPCHF 0.07 -0.38 0.7 -3.8
GBPDKK 0.94 -1.52 9.4 -15.2
GBPJPY 0.11 -0.38 1.1 -3.8
GBPNOK -3.46 2.43 -34.6 24.3
GBPNZD -1.66 1.31 -16.6 13.1
GBPSEK -2.05 1.3 -20.5 13
GBPSGD -0.12 -0.41 -1.2 -4.1
GBPUSD -0.03 -0.29 -0.3 -2.9
NOKJPY -0.06 -0.21 -0.6 -2.1
NOKSEK -0.07 -0.37 -0.7 -3.7
NZDCAD 0.43 -0.74 4.3 -7.4
NZDCHF 0.54 -0.85 5.4 -8.5
NZDJPY 0.64 -0.94 6.4 -9.4
NZDUSD 0.57 -0.87 5.7 -8.7
SEKJPY -0.08 -0.18 -0.8 -1.8
SGDJPY -0.8 -2.8 -8 -28
USDCAD -0.39 0.09 -3.9 0.9
USDCHF -0.07 -0.2 -0.7 -2
USDCNH -5.9 2.8 -59 28
USDCZK -2.4 -4.2 -24 -42
USDDKK -0.61 -1.01 -6.1 -10.1
USDHKD 0.21 -0.79 2.1 -7.9
USDHUF -237 0 -2370 0
USDJPY -0.07 -0.2 -0.7 -2
USDMXN -13.63 6.27 -136.3 62.7
USDNOK -2.76 1.64 -27.6 16.4
USDPLN -2.52 1.1 -25.2 11
USDRUB -90 70 -900 700
USDSEK -1.91 1.09 -19.1 10.9
USDSGD -0.19 -0.18 -1.9 -1.8
USDTRY -7.66 3.82 -76.6 38.2
USDZAR -38 25 -380 250
XAGEUR -0.019 -0.009 -0.19 -0.09
XAGUSD -0.019 -0.009 -0.19 -0.09
XAUEUR -1.3 -0.6 -13 -6
XAUUSD -1.3 -0.6 -13 -6

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