Forward transaction

Forward Exchange Contracts

A Forward Exchange Contract is a contract between Bank of Melbourne and you where the Bank agrees to BUY from you, or SELL to you, foreign currency on a fixed future date, at a fixed rate of exchange. You undertake to pay the Bank, the overseas currency in terms of the contract in exchange for the settlement currency, which would usually be Australian Dollars.

The Bank can provide a Forward Exchange Contract in most overseas currencies, for the protection of Exporters and Importers who are subject to exchange risks in the course of their international transactions.

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