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FX forward contracts  

Currency forward - is a binding contract to buy or sell a certain amount of currency for another currency at a specified future date at a specified rate. The contract is used to fix the exchange rate of foreign earnings or expenses coming in the future for the better planning of future cash flow.

Forward rate depends on the difference in interest rates on currencies that are the subject of the transaction and the current spot exchange rate between these currencies.

Key benefits:

  • Easy and flexible contract terms;
  • No transaction fee;
  • Safety against adverse movements in exchange rates.

Non-deliverable currency forward

Non-deliverable currency forward — a binding contract to buy or sell a certain amount of currency for another currency at a specified future date at a specified rate, while payment / delivery takes place only against the difference between the forward rate and the market rate at the time of the contract expiration. It enables to use short-term contracts to protect the long-term foreign currency positions against adverse exchange rate.

Key benefits:

  • No need to supply currency for the full amount of the contract;
  • Flexible terms;
  • No contract fee;
  • Ability to hedge long positions by short-term contracts;
  • Ability to select the most favorable terms and rates to hedge currency risks.