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Foreign Exchange

Foreign Exchange

Swift and effective services that include over-the-counter transactions, spot contracts, and forward exchange contracts.

Benefits


  • Carry out your foreign transactions with one of the top foreign exchange dealers by volume of daily turnover.
  • Caters to the needs of an extensive customer base including individual and middle-market clients, local corporations, multinationals and government agencies.
  • Enjoy live prices for over 35 currency pairs available, plus competitive prices.

Features


  • Over-the-counter (OTC) telegraphic transfers, demand drafts and currency notes at branches.
  • Spot Contract: 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 (FEC):
    • An agreement to buy or sell currencies at a future date of more than two trading days at a predetermined price.
    • It 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 used to offset or hedge against future rate exposure on receivables or payables in other currencies.
  • Our extensive branch networking offers you convenience and competitive pricing on over 20 pairs of hard currency notes.
  • Currency Options:
    • 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.

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