1.  Borrowers are using the swap market to satisfy investor demand for exotic currency Eurobonds while securing cheap money for themselves.

2.  A Eurobond sold by a top-rated borrower and denominated in an exotic currency can offer currency diversification without additional credit risk.

3.  For most Americans, the complicated trading of vast sums of exotic currencies on international exchanges seems pretty distant.

4.  The other so-called exotic Southeast Asian currencies -- the Indonesian rupiah and Thai baht -- were nearly unchanged against the greenback.