Forward exchange contracts usually require a deposit. This allows you to utilise the majority of your funds until the end of the forward exchange contract when the funds are exchanged.

A forward exchange contract allows you to reduce your exchange rate risk by locking in a rate now even though the actual transaction will only take place at a later date. In this way, you are able to 'lock' in a fixed rate now for future use and as a company you can be sure of the cost of your purchased currency before you actually need it.

 

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