A Foreign Currency Account
may be denominated in any major foreign currency, enabling international trading companies to manage their foreign currency transactions more effectively.
Overdraft facilities are available as are arrangements for credit balances to earn interest. Minimum balance requirements may apply.
- A Foreign Currency Account allows netting of foreign currency transactions, thereby minimising exchange risks.
- The facility provides a valuable means of financing where there are mismatches in transaction timings and where volumes of transactions require flexibility for management control.
- Short-term overdraft facilities can be arranged.
- The account makes it possible to buy or sell foreign currencies in advance when exchange rates are advantageous.