Foreign Exchange

Overview

Agreement between two parties to buy and sell currencies. USD against selling another currency e.g., CDF, EURO & GBP at an agreed price for the settlement spot date.

EXCHANGE RATES

  1.    There is equal access to market information (transparency).     
  2.    The purchase and sale are done instantly.     
  3.    It is a global 24-hours market.

  1.    It protects traders and clients from unfavourable exchange rate fluctuations which might occur between the contract date and the     payment date.     
  2.    The exact value of import and export orders can be calculated and established.        
  3.    This helps eliminate currency risk, as foreign exchange costs are determined t with no upfront cost.     
  4.    It is the most liquid market in the world, compared to other products.     
  5.    Price transparency is very high in the FX market.     
  6.    Evolution of online foreign exchange trading continues to improve benefits traders.     

  1.    Hold a valid identity document (passport, Election card, driver's  license).      
  2.    Foreign Exchange Limits compliance.
  3.    Compliance to Forex Rates.

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