Under foreign exchange refers to the following transactions:
- acquisition currency values or legal resident of the alienation of the resident;
- use of currency valuables and securities as a means of payment;
- acquisition currency values or their legal exclusion of non-residents from non-residents;
- imported into the customs territory of the country currency values, currency, domestic securities;
- of currency translation on account within the country and abroad.
currency transactions are divided into two categories: current and those associated with the movement of capital.
Current currency transactions include:
- currency transfers in and out of the country to pay bills on the import or export of goods without payment deferral.It also includes funds for the settlements, which are related to lending operations, imports and exports for a period of not more than 3 months;
- Financial loans for a period of not more than six months;
- Transfers from / to income on foreign currency deposits (interest, dividends, etc.) and any type of investment, as well as on transactions with any kind of monetary capital;
- Non-trade transfers, including the amount of pensions and social benefits
currency transactions involving the movement of capital:
- direct investment (equity participation for the right to operate and of the dividend);
- Investments for the acquisition of securities;
- Financial loans for a term exceeding 180 days;
- Translations intended for payment of real property;
- Preparation and provision of deferred payment of export-import operations for a period longer than 3 months;
- other transactions not included in the current.
Urgent currency transactions and their types - this transaction, which provide protection against foreign exchange risks.The main types of currency futures transactions - it
forwards, futures, options, swaps, leeds and Sea Legs.
Forward - is the OTC transaction, which is made by a bank or commercial organizations on the basis of an agreement providing for compensation for losses and both sides of changes in interest rates.
Futures - is the exchange contract in which comes a certain amount of currency at the rate determined in advance for a certain time.
option - this type of currency transaction enables the buying and selling currency at a fixed price at a certain time.
Leeds and Sea Legs - is the acceleration or deceleration of payments in foreign exchange trading to protect against the risk of the transaction.
swap - is banking transaction, which consists of 2 vzaimozaschityvayuschihsya transactions for the same amount, which is to one day, one of these deals is urgent, and the second for immediate delivery.
main types of foreign exchange transactions are:
- Keeping foreign currency accounts (opening, accrual of interest on balances, overdraft facilities, provision of extracts from foreign currency transactions, providing an archive account for a certain time period, operations with foreign currency accounts of clients, legal support foreign exchange operations,ensuring appropriate documentation of transactions (This service is in high popularity among customers who want to make foreign exchange transactions, but do not know all the legal technicalities and want to protect their trade from the risk .;
- Non-commercial operations related to customer service and are not related to commercialtransactions. The most popular of these operations is the issue of credit cards, buying and selling the currency to the population through a network of exchange points, expedited processing of traveler's checks and registration of traveling in foreign currency for travel abroad,
currency transactions are one of the most powerful components of income of the bank,but because every year is expanding the range of such services.
