swap questions

A U.S. bank enters into a plain vanilla currency swap with a German bank. The swap has a notional principal of US$15m (Euro 15.170m). At each settlement date, the U.S. bank pays a fixed rate of 6.5 percent on the Euros received, and a German bank pays a variable rate equal to LIBOR+2 percent on the U.S. dollars received. Given the following information, what payment is made to whom at the end of year 2? Shouldn’t both pmts be made in the same currency per the definition of a plain vanilla swap? All the answers have one party paying $ and one party paying €

currency swaps work differently mate.

Shodz, the definition of plain vanilla currency swap is to pay floating US dollar and receive fixed foreign currency. That’s what the vanilla means (i.e. floating for fix)