Foreign exchange

Foreign exchange transactions where one currency is bought or sold against payment in another currency, at a specified rate, with settlement taking place two business days later.

For urgent processing of currency payments or receipts, one-day value or even same-day value exchange rates may be provided, depending on the currency cut-off times.

These are contractual agreements between the bank and its clients to exchange a specified amount of one foreign currency for another at a predetermined exchange rate on a specified future date.

These are FECs with a maturity date more than 12 months away.

The simultaneous purchase and sale of identical amounts of foreign currency on 2 different value dates, either spot against a forward date, or one forward date against another forward date.

We provide 24-hour monitoring and execution of currency orders, stop-loss orders or call levels on behalf of clients.

Pertinent data and astute perspectives on the foreign exchange markets are also provided to our clients.

This account offers tiered interest rates against the daily closing balances, paid on the first working day of the following month. Rates are adjusted in line with FED interest rate decisions, calculated against the US dollar day count, and paid out in USD.