FX operations


The currency exchange rates established for the currencies that the Bank trade with are the subject to change in accordance with the daily volatility in the international markets where such trade takes place.

Apart from the standard currency-based (exchange) services (FX), the Bank provides the corporate clients with a range of the modern services relating to financial market.

FX SPOT operations

The spot contract is a most frequent FX transaction form – amount in one currency is exchanged for the corresponding amount in another currency in accordance with the valid spot exchange market rate.

The contract is executed on the same day.

In order to carry out the spot transaction, in the request letter to the Bank the Client shall mention the amount and the currency pair- the currency that is offered for change ( currency to sell ) and the currency to which it will be exchanged ( currency to buy).

The risk that arises from the spot operations relates to the occurrence of the frequent and unexpected changes in the international market. Once the currency has been bought it is possible to have its price reduced in relation to another, a reference value currency, which consequently may result in the loss incurred by a participant in such spot operation.  

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FX forward contract is an agreement on purchase or sales of an amount of foreign currency at the point of time in future.  

Forward contract shall be executed at the moment when a currency’s price in the international market reaches a level set at by the client.

FX forward contracts facilitate the investors to manage the currency risks (the exchange-rate risks) in the financial market by fixing the future currency exchange rate on a day when the currency transaction shall be carried out. Therefore, by using such contracts the investor is in position to:
• Fix costs of products and services that have been bought at the foreign market.
• Protect profit margin on products and services that are sold to the foreign market.
• Fix currency exchange rates in future

The forward currency exchange rates depend on the spot currency exchange rates and the ratio between the interest rates of two currencies, i.e. the difference between the revenues from the interest rate that may be earned in two countries during the same forward period.

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