Forward Exchange Contracts
Using forward exchange contracts you can buy and sell currencies in advance, at fixed exchange rates. So they cover the risk of exchange rate fluctuations and guarantee the value of future transactions.
Using forward exchange contracts you can:
- Fix the rate of exchange for foreign currency transactions for a specified date or time period.
- Budget more accurately for international projects.
- Know exactly what your costs or income will be.
- Cover most major currencies.
Subject to application and approval process.
You pay the foreign exchange rate which is based on the spot rate on the day of the deal. A forward exchange contract is binding and will have to be cancelled if you don't use it. This may result in a profit or loss depending on the exchange rate on the day of cancellation.
Rates and charges
See our rates and charges page for easy to compare details.
How to apply
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
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