Buying & Selling fx. currencies
Bank Sadedrat Iran has an active presence in foreign exchange markets as a price maker and offers the following services while . . .
Bank Sadedrat Iran has an active presence in foreign exchange markets as a price maker and offers the following services while it announces the transaction exchange rate to all local banks and Iranian banks as well as individuals:
- Spot transactions
- Same day transactions
- Forward transactions
- Swap transactions
Bank Saderat Iran is quoting FX rates for hard currencies against each other and also against IRR.
Spot transactions:
The participants in a spot transaction agree to buy and sell, respectively, at the present market value and to settle the transaction two banking business days later.
Same day transactions:
In this transaction trade date and settlement date is same day and usually done before cut of time.
Forward transactions:
A forward transaction is a contract to buy or sell currencies at a specified future time at a price agreed today.
This type of transactions can help the buyer or the seller to hedge them against fluctuation of FX rate in the future.
Swap transactions:
A swap transaction is a simultaneous spot (purchase or sale) deal together with a forward (purchase or sale) deal.