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Forward Exchange Rates

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A Forward Foreign Exchange rate is the exchange rate at which one currency can be exchanged for another currency for settlement on a predetermined future date (maturity date).

Clients can take advantage of forward exchange rates using forward exchange contracts (FEC). An FEC allows clients to lock in an exchange rate today for a transfer that needs to occur in the future (between two days and twelve months from today), thereby protecting against exchange rate movements in the interim.

The forward rate is calculated by adjusting the current market rate (the spot rate) for "forward points", which take into account the difference in interest rates between the two currencies and the time to maturity. The forward points are based on a formula which is standard industry practice; this is not an extra margin charged by OzForex.

You do not have to pay the full amount owing on the FEC until the maturity date. There may however be a deposit required at the commencement of the transaction and/or at a later stage prior to the maturity date.

If you would like a quote for a forward exchange rate or want to know more about forward rates please call our dealing desks on:

Australia Free Call: 1300 300 524 (corporate clients)
Australia Free Call: 1300 300 424 (private clients)
Canada Local Call: 1800 680 0750
NZ Free Call: 0800 161 868
UK Local Call: 0845 686 1950
International: +61 2 8667 8090

...or register at www.ozforex.com.au/register for online access.




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