Treasury

Forex TT Forward Agreement

At a glance

These are purchases or sales of foreign currency for settlement on a future date, usually with a minimum of 14 days from the date of transaction. It provides hedging against foreign currency losses through fluctuations in exchange rates. It is also advantageous for fixing returns or profits on the part of the Customer. Furthermore, suppliers of Forex usually enjoy a higher return on their Forex and maximize on their Forex income.

Full details

These are purchases or sales of foreign currency for settlement on a future date, usually with a minimum of 14 days from the date of transaction. It provides hedging against foreign currency losses through fluctuations in exchange rates. It is also advantageous for fixing returns or profits on the part of the Customer. Furthermore, suppliers of Forex usually enjoy a higher return on their Forex and maximize on their Forex income.

In the case of Forward TT Forex Transactions, FDH Bank and the Customer enter into a Forward Foreign Exchange agreement stipulating all terms and conditions of the transaction. If cancelled, a cancellation charge (depending on the movement of exchange rates in the interim period) may apply. Under this transaction pricing is dependent on interest rate differentials of the currencies traded.

Terms & conditions

You can apply if you are 18 years of age or over pop into your local branch: Find your nearest branch or send us an enquiry 

 

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Umoyo House, No. 8 Victoria Avenue North, Blantyre, Malawi +2651820219 info@ fdh.co.mw