There are 9 regular currencies, including USD, EUR, JPY, GBP, AUD, SGD, CAD and CHF. Other foreign currency transactions due to business need will be provided on a case by case basis.
1. SPOT: FX transactions with delivery date of no more than 2 business days.
2. OUTRIGHT: FX transactions with delivery date of more than 2 days. The closing date is subject to customer’s requirements and market situation and shall not be more than 1 year in principle.
3. SWAP: Customers buy Currency A and sell Currency B (close-end transaction) while they sell Currency A and buy Currency B (far-end transaction). Delivery dates of far-end and close-end transactions are subject to customer’s requirements and market situation and shall not be more than 1 year in principle.
The minimum amount for agency FX transaction is USD 300,000 or equivalent amount in other currency (allowing one-time entrust and delivery by installments).
(i) The applicant has a foreign exchange or foreign banknote account, owns 100% of funds in such account, and agrees to pledge self-owned funds as margin in full amount.
(ii) The applicant has applied for foreign exchange transaction line with XIB
1. Foreign exchange line may be either provided from general credit line given by XIB or listed separately; in application for foreign exchange line, it shall specify the proportion of transaction amount in such line and no other limitations. Otherwise in principle, transaction line will be registered.
2. In principle,foreign exchange transactions made within FX line shall be settled before the due date of such line in principle.
3. In the occurrence of transactions, corresponding FX transaction line or general credit line shall be registered, and there is no need to withdraw loans.
(iii) FX transaction line shall be applied for first when any other guarantee method is used, including warranty, mortgage, pledges excluding self-margin pledge, and deposit pledge.