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Foreign Exchange Swap


 

Name
Foreign Exchange Swap

Introduction
Foreign exchange swap refers to currently buying one currency and selling another currency while forward re-selling the bought currency and buying another one currency.That is to say, a swap transaction composes of a spot deal and a forward deal.

Features
1. The combination of foreign exchange spot and forward deals can lock up the exchange rate risk, which enable customers match up, with no need to bear risk of foreign exchange rate changes, the cash flows of assets in two foreign currencies to satisfy corporate demands.
2. Trading currency types: all kinds of freely convertible currencies mainly including USD and THB.

Term
Bank of China provides standard or non-standard foreign exchange swap offers within one year, and customers also can entrust Bank of China with foreign exchange swaps with a term more than one year.

Guarantee
Customers need to pay certain amount of cash as the security deposits for foreign exchange transactions except the spot deal.

Target Customers
After foreign exchange forward dealing, customer in need of early settlement or delayed settlement may adjust the former settlement date through foreign exchange swap.

Procedure
1. Application: customer applies for foreign exchange service to Bank of China. 
2. Inquiry: customer inquires the quotations from Bank of China.
3. Transaction procedures: customers engaging in such product must have credit supports or provide a certain amount of cash as the security deposit.Upon the conclusion of the transaction, Bank of China shall send the transaction confirmation to the customer.Customers are required to handle settlement with Bank of China on the settlement day.

Advantages
Currently Bank of China foreign exchange swap business makes offers to both customer and other banks.

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