11.   Even now, Rerngchai does not seem to understand the implications of the swap transactions.

12.   Had we not gone for the swap transactions during the baht attack, we would have lost the reserves, which were in cash.

13.   Swap transactions in the foreign exchange market are the simultaneous buying and selling of a currency in approximately equal amounts for different maturity dates.

14.   The largest opposition party, the Flemish Liberal Democrats, had accused Maystadt of speculating with public funds in risky currency swap transactions.

15.   Through the swap transactions, the speculators got hold of the baht in their portfolios to settle their short baht positions.

16.   Without the baht attack, the BOT would not have necessarily entered into the swap transactions.

17.   Without the baht attack, the BOT would not have had to enter into the swap transactions.

18.   This was followed by other European currency swap transactions, which he also confirmed, it said.

19.   Reluctance on the part of foreign banks was evident in swap transactions in which borrowers exchange fixed for floating interest rates, the Nihon Keizai Shimbun said.