Can I fix my exchange rate now for a future purchase?

Yes, an exchange rate can be fixed for up to 2 years in the future. This means that you can determine exactly how much you need to spend on a future purchase without having to worry about fluctuations in exchange rates prices between now and the future.

This type of currency buying is called a Forward Contract as opposed to a Spot Contract. With a Forward Contract 10% of the trading amount is required on the trade date with the remaining 90% on the value date of the trade (i.e. the future date when the funds are required).

If you do not know the exact date of when your funds are required then a Time Option (Flexible) Forward Contract can be requested. This allows you to take early delivery of your funds or draw out part of the full amount before the value date if required

Back to questions and answers >>

Buying Property Abroad?
Avoid currency fluctuations

Exchange & Community
Free international transfers for charities