Interest Rate Swap

An interest rate swap is a derivative in which one party exchanges a stream of interest payments for another party's stream of cash flows - interest rate swap - definition of interest rate swap

A Linear Forex-Linked Swap is an Interest Rate Swap
Interest rate swaps are in the same currency.
In an interest rate swap, we were concerned exclusively with the exchange of cash flows relating to the interest payments on the designated notional amount

In the case of a forex swap or currency swap, principal exchange is not redundant. The exchange of principal on the notional amounts is done at market rates, often using the same rate for the transfer at inception as is employed at maturity

Under the commonest form of interest rate swap, a series of payments calculated by applying a fixed rate of interest to a notional principal amount is exchanged for a stream of payments similarly calculated but using a floating rate of interest. This is a fixed-for-floating interest rate swap. Alternatively, both series of cashflows to be exchanged could be calculated using floating rates of interest but floating rates that are based upon different underlying indices. Examples might be Libor and commercial paper or Treasury bills and Libor and this form of interest rate swap is known as a basis or money market swap.

An interest rate swap can be analyzed as an exchange of fixed for floating rate bonds.
SSRN-Cross-Currency Interest-Rate Swap