Corporate Banking

Introduction

  

FX Swap is a FX transaction in which customers and the bank buy or sell some currency with certain term and amount while they sell or buy the same currency with another term and same amount. For example, a customer and the bank convert Currency A to Currency B at agreed exchange rate and close the transaction on the first interest-bearing day; and on the second interest-bearing day, the customer and bank convert Currency B to Currency A at another exchange rate. Generally, the settlement date for Forward Foreign Exchange Transaction is within one year; operation demanding longer term shall be subject to the consent of Fund Department. At present, XIB customers may conduct spot FX transactions in 9 regular currencies, including USD, HKD, EUR, GBP, JPY, AUD, CHF, CAD, and SGD. Other foreign currency transactions incurred due to business need will depend on specific conditions.

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