Foreign exchange swap (FX Swap) is an agreement between the bank and customer on simultaneous purchase and sale of foreign currency with two different value dates (spot and forward dates) for the same notional amounts, at pre-agreed exchange rates (Spot rate and Forward rate). Execution of FX Swap transaction at the pre-agreed terms is obligatory.
Who may use FX Swaps?
FX Swap consists of 2 sides (or legs) - spot leg and forward leg. Similarly there are 2 exchange rates prevailing in the FX Swap transaction - "Spot" exchange rate and "forward" exchange rate.
Difference between the "spot" and "forward" rates is maximum amount client pays in order to eliminate any exchange rate risk.
TBC Bank Treasury
Tel: +322 2 27 27 28
+332 2 27 27 25
+332 2 27 27 27 (*1108, *1105,*1173)
Dealing Code: TBCG