Barclays Bank

Phone: +44 247 684 2063

Foreign/Forward exchange

-A spot deal is an agreement between you and Barclays to buy or sell a specific amount of foreign currency at a specified exchange rate, for delivery at a future defined date.
-We deal in more than 80 currencies, enabling you to settle bills, place money in your currency accounts or use one of our many payment services in the currency of your choice.
-Fix the value of your known foreign currency payables and receivables for delivery at a future date (fixed date forward contract), or between two future dates (an option dated forward).
-The forward rate is based on margins which are applied to the appropriate spot rate. The margins reflect the difference between the interest rates of the two currencies.


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