Currency exchange operations

  • Spot transactions - represent currency exchange transactions between the Client and Bank, based on the client's order to buy /sell a currency against other at an exchange rate commonly agreed in maximum two working days. Exception from this definition are the currency exchange transactions that have the transaction date and the settlement date on the same day.
  • Forward transactions - Represent a credit line to cover the pre-settlement risk of any forward transaction. The bank grants this facility to cover the potential losses caused by the exchange rate fluctuation that can be made on the reference day.
  • Swap transactions - Covering potential losses that the client can incur based on a swap contract regarding the interest rate.