A rapidly evolving business scenario requires solutions that are nimble and unbound by complexities such as forex rates and international monetary crisis. Here, forex services are backed by sound advice from experts, so you get only the best exchange rates.
One of the major risks that a Business Banking client faces is the risk of fluctuations in the forex rates. We bring you solutions to hedge your forex risk and help you focus on your core business activity.
A spot contract is a binding obligation to buy or sell a certain amount of foreign currency at the current market rate, for settlement in two business days. To enter into a spot deal, you advise us of the amount, both currencies involved and which currency you would like to buy or sell.
This is an agreement between the bank and you to buy or sell a specified amount of foreign exchange at a rate agreed today for delivery on a specified date in the future.
This guarantees you a fixed future spot rate at which you may buy or sell a certain amount of currency thus enabling you plan better and hedge against adverse foreign exchange movements.