- Over-the-counter (OTC) telegraphic transfers, demand drafts and currency notes through our extensive branches.
- A FOREX Spot Contract is the buying and selling of currency with a delivery of two trading days from the date of transaction, e.g. a Spot Contract transacted on Monday will settle on Wednesday.
Forward Exchange Contract
- A Forward Exchange Contract (FEC) is an agreement to buy or sell currencies at a future date of more than two trading days at a predetermined price.
- An FEC can be either at a premium (i.e. higher than spot rate) or discounted (lower than spot rate) price, depending on the interest differential between the two currencies. It is generally used to offset or hedge against future rate exposure on receivables or payables in other currencies.
Foreign Currency Notes
- Our extensive branch networking offers you convenience and competitive pricing on over 20 pairs of hard currency notes.
- A Currency Option Contract provides the buyer (holder) with the right (not obligation) to buy or sell currency at a predetermined rate (strike price) on a specific future date.
- The buyer of the Option pays an upfront fee or premium to the seller in exchange for the right featured in the Option Contract. This instrument is generally used to hedge and manage uncertain future currencies exposure.