Nedbank Namibia's Treasury has a team of foreign exchange specialists to provide all the practi Click the PERSONAL button on the left to expand it again. Businesses that trade internationally are likely to be exposed to foreign exchange risk arising from volatility in the currency markets.

Nedbank has a team of foreign exchange specialists who can provide all the practical support and discerning advice to make managing currency risk simple and cost-effective. We will work with you to develop an appropriate foreign exchange risk management strategy that effectively meets the requirements of your business, using instruments such as spot cover, forward exchange contracts FECs and derivative instruments.

FECs Forward Exchange Cover are contractual agreements between the bank and its clients to exchange a specified amount of one foreign currency for another at a predetermined exchange rate on a specified future date. Accessibilty Links Skip to home page Skip to header navigation Skip to main navigation Skip to content Skip to footer navigation.

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Nedbank Bureau De Change - My Namibia

We provide the following key services: Spot cover — This refers to foreign exchange transactions where one currency is bought or sold against payment in another currency, at a specified rate, with settlement taking place two business days later. A fixed FEC can be used only on the specified maturity date. A partly optional FEC can be used within a pre-specified period between two future dates.

Bank of Namibia - Exchange Rates and Indices

A fully optional FEC can be used at any time between the date of establishing the FEC and the specified maturity date. The option holder buyer can therefore choose the better exchange rate — either the prevailing rate in the market at the time, or the price specified in the option contract. While currency derivatives provide greater flexibility as a hedging instrument, they also have a cost in the form of a premium that is payable at the time of purchasing the option contract.

Bank of Namibia - Frequently Asked Questions

With a call option the buyer has the right, but not the obligation, to buy the underlying currency at a fixed exchange rate on a predetermined future date; and With a put option the buyer has the right, but not the obligation, to sell the underlying currency at a fixed exchange rate on a predetermined future date.

One party to the agreement agrees to buy the CF contract at a specified exchange rate and the other agrees to sell it at the expiry date. The underlying instrument of a CFs contract is the rate of exchange between one unit of foreign currency and the South African rand. Contracts are cash-settled in rand and no physical delivery of the foreign currency takes place.

CF contracts are traded on the JSE and have margin requirements that the client must provide. Not the page you are looking for? Back to Previous Page. Please take a moment to give us your suggestions.

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