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FOREIGN EXCHANGE

FOREIGN EXCHANGE
SPOT

Buy or sell one currency against another currency for immediate delivery within two business days of transaction date.

FORWARD EXCHANGE
CONTRACT

A contract with the agreement to buy or sell one currency against another currency for delivery beyond two business days after transaction date.

FOREIGN EXCHANGE
SWAP

A contract with the agreement of a simultaneous exchange of a fixed amount of currency versus another at two different value dates between two parties.

FOREIGN EXCHANGE
OPTION

A contract that gives the option buyer the right but not the obligation, to buy or sell a stated amount of one currency for another at a specific FX rate on or before a pre-determined future date.

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FORWARD EXCHANGE CONTRACT

A Forward Exchange Contract (FEC) is an agreement to buy or sell currencies at a future date of more than two trading days at a predetermined price. An FEC can be either at a premium (i.e. higher than spot rate) or discounted (lower than spot rate) price, depending on the interest differential between the two currencies. It is used to offset or hedge against future rate exposure on receivables or payables in other currencies.
Client Profile:
Companies such as importers, exporters with future foreign exchange obligations or receivables with the hedging strategy to eliminate FX rate uncertainty
Available Currencies:
US Dollar, Euro, British Pound, Japanese Yen, Australian Dollar, Hong Kong Dollar, Singapore Dollar, Philippine Peso
Tenor:
Up to one year, depending on the underlying obligation to be hedged
Required Documents:
* Foreign Exchange Contract (FEC) with the bank
* Client Suitability Assessment Form
* Risk Disclosure Statement
* Any other documents to be required by the bank
* Documents as prescribed by the BSP’s Manual of Regulations on Foreign Exchange Transactions

FX SWAP

A contract with the agreement of a simultaneous exchange of a fixed amount of currency versus another at two different value dates between two parties (usually a spot and a forward foreign exchange transaction).
Client Profile:
Sophisticated institutional clients with liquidity in one currency that can be utilized to fund obligations denominated in a different currency
Available Currencies:
US Dollar, Euro, British Pound, Japanese Yen, Australian Dollar, Hong Kong Dollar, Singapore Dollar, Philippine Peso
Tenor:
Up to one year, depending on the underlying obligation to be hedged
Required Documents:
* Foreign Exchange Contract (FEC) with the bank
* Client Suitability Assessment Form
* Risk Disclosure Statement
* Any other documents to be required by the bank
* Documents as prescribed by the BSP’s Manual of Regulations on Foreign Exchange Transactions

FX OPTION

A contract that gives the option buyer the right but not the obligation, to buy or sell a stated amount of one currency for another at a specific FX rate on or before a pre-determined future date. The buyer of the Option pays an upfront fee or premium to the seller in exchange for the right featured in the Option Contract. This instrument is generally used to hedge and manage uncertain future currencies exposure.
Client Profile:
Entities with foreign exchange exposures to be hedged, that have the level of risk tolerance, knowledge and expertise to deal with sophisticated financial products and are willing and able to expose funds to a moderate level of risk to meet certain objectives
Available Currencies:
US Dollar, Philippine Peso
Tenor:
Up to one year, depending on the underlying obligation to be hedged
Required Documents:
* Derivatives (DV) Facility with the bank
* Documents as prescribed by the BSP’s Manual of Regulations on Foreign Exchange Transactions
* ISDA Master Agreement
* Client Suitability Assessment Form
* Risk Disclosure Statement
* Any other documents to be required by the bank
* Term Sheets

Forex

as of 03/16/2022
Indicative rates only

Currency Buying Selling

USD 51.875 52.875

Currency Buying (in PHP) Buying (in USD) Selling (in PHP) Selling (in USD)

JPY (YEN) 0.4284 0.0082 0.4506 0.0086

GBP (POUND) 66.9318 1.2827 70.4082 1.3493

HKD (DOLLAR) 6.5067 0.1247 6.8447 0.1312

SGD (DOLLAR) 37.4498 0.7177 39.3949 0.7550

AUD (DOLLAR) 37.0628 0.7103 38.9878 0.7472

EUR (EURO) 56.1360 1.0758 59.0517 1.1317

CNY/RMB (YUAN) 8.0096 0.1535 8.4257 0.1615

MYR (RINGGIT) 12.1262 0.2324 12.7561 0.2445

TWD (NT DOLLAR)*** 1.7876 0.0343 1.8805 0.0360

KRW (WON) *** 0.0416 0.0008 0.0437 0.0008

CHF (FRANC) *** 54.1056 1.0369 56.9158 1.0908

CAD (DOLLAR) *** 40.1290 0.7690 42.2132 0.8090

BHD (DINAR) *** 134.9590 2.5864 141.9687 2.7207

SAR (RIYAL)*** 13.5603 0.2599 14.2646 0.2734

IDR (RUPIAH)*** 0.0036 0.0001 0.0037 0.0001

THB (BAHT) *** 1.5260 0.0292 1.6052 0.0308

NZD (DOLLAR) *** 34.7073 0.6651 36.5099 0.6997

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