The Bank carries out the purchase and sale of agreed amount of a currency for delivery on a fixed future date. This is the easiest way to protect against currency risks. The forward rate is calculated based on the difference between interest rates on deposits in currencies for a forward transaction. The settlement period can be up to 3 months from the date of the forward transaction.
To perform forward transactions you need to:
- sign an `Agreement for Financial Transactions and Posting of Collaterals`;
- deposit required collateral amount, specified in your agreement with the bank;
- the transaction amount should exceed EUR 6000.
- sustainable financial results in accordance with the rate fixed at the time of the transaction;
- hedging against currency rates fluctuations and avoiding of potential losses;
- no additional commissions or transaction charges.