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Foreign Exchange Services (FX Forwards)

Global Transactions Made Simple.

Foreign Exchange Services

It is a binding contract in the foreign exchange (FX) market that locks in the exchange rate for the purchase or sale of a currency on a future date.

  • Features & Benefits



    • Customers can hedge against exchange rate volatility.
    • Transaction amount and rate is predetermined for settlement at an agreed value date in future.
    • A contract is agreed and signed by both counterparties stating the rate, amount and the value date.
    • Tenors for FX Forwards ranges from 7, 14, 30, 60 and 90 days
    • Currencies traded are USD, EUR, GBP and XOF.
  • Terms & Conditions



    • The agreement is binding on both parties to settle on the value date.
    • Minimum of 10% of the total amount is required to be in customer's account.
    • The remaining 90% to be provided before the maturity date.
    • In the event where customer is unable to meet the agreement on maturity date, all losses incurred will be charged to the customer.
    • Refer to Treasury for all Forward rates.
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