Introduction

Foreign exchange spot deals refer to FX trades where both parties transact at the spot exchange rate of the day on the foreign exchange market, and settle the exchange on the second business day after the trading date (T+2).

Features

1.The customer entrusts the Bank to buy one currency and sell another to make a conversion between different foreign currencies.

2.Direct quotations.

3.In case the value date is not a business day or is a holiday, the value date will be extended accordingly before delivery to the customer.

4.Bank of China can also, at the request of the customer, conclude the transaction with the value date set on the same day of the transaction or on the next day.

Currencies

Please enquire directly for further information re. provision of specific currencies.

Target Customers

1.Companies who require to buy or sell foreign currencies.

2.Companies who already have a foreign currency account with BOC.

Process

1.Sign the application for Foreign Exchange Trading: The applicant, before the foreign exchange spot transaction, shall submit the Application for Foreign Exchange Trading to the bank

2.Inquiry: The applicant decides on the details of the foreign exchange spot deal in the form of a written request and makes an inquiry to the Bank.

3.Dealing: Once the deal is closed, the Bank sends to the applicant the transaction confirmation in writing.

4.Settlement: The actual delivery is conducted on the delivery date.