You can calculate it yourself, but I doubt that someone will do this. Your broker has already done everything for you and collected this data in a single table:
In this table, you can see any information that interests us. But it is worth remembering that in most of these tables the swap value is indicated in points, and not in currency. To find out a swap in a currency, you need to multiply the value from the table by the price of one point of your currency pair.
If you want to know the value of the swap without looking up from the window of the trading terminal, just point at the currency pair you are interested in and select the “contract specification” item.
We see a window where you can see all the information about this pair, the swaps we need, as well as an indication of the units in which this swap is expressed.
Today I tried to talk about swaps in simple terms. There are also special strategies for the foreign exchange market that allow you to earn not on the difference in the quotes themselves, but on a swap. An example of such a strategy is “carry trade”. The essence of this strategy is that we buy a currency pair in which the interest rate of the base currency is higher than the interest rate of the quoted one, thereby the swap from such an operation will be positive. And all we need is to keep the exchange rate for a long time at approximately the same level. This will eliminate foreign exchange loss, but due to a positive swap, we will make a profit. This strategy is common in the banking sector, but it is not widespread among traders.
A few key points to remember:
- If your strategy is of an intraday nature, you may not even pay attention to the swap;
- If you work at intervals from a week to a quarter, I do not recommend working at cross-rates and minor pairs, as they have very high swaps, and for such a long interval they will significantly affect the result of trading;
- Do not try to look for a catch where it is not there, the broker’s markup is so insignificant in comparison with your profit or loss that you can simply forget about it and never remember;
- Well, and in the end – successful trading, friends!