Offering you protection against future fluctuations in foreign currency so you can plan your cashflows more accurately, and assistance benefitting from favourable movements in foreign currency exchange rates.
Value Tomorrow & Spot relates to the timing of the settlement of an agreed foreign exchange transaction. Value Spot is an agreement for settlement in 2 business days’ time, however Value Tomorrow is settled the next available business day.
Forward Exchange Contracts
A Forward Exchange Contract (FEC) is a binding agreement between two parties to exchange one currency for another on an agreed date (but not Value Spot) at an agreed rate.
Foreign Currency Options
A Foreign Currency Option gives the buyer the right (but no obligation) to exchange one currency for another at an agreed rate on an agreed date.
Foreign Exchange Swaps
A Foreign Exchange Swap involves the exchange of one currency for another at an agreed exchange rate and start date, and then a re-exchange of these two currencies at an agreed end date and exchange rate. The exchange rates are agreed at the time the Foreign Exchange Swap is entered into, thereby removing exposure to exchange rate movements during the term of the Foreign Exchange Swap.
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Foreign Exchange Products are issued by Suncorp-Metway Ltd ABN 66 010 831 722. Please read the relevant Product Disclosure Statement or Product Features Booklet before you make any decisions regarding any of these products. Contact us for a copy.