Foreign Exchange

Banks offer foreign exchange services to facilitate currency transactions and international financial activities for individuals, businesses, and institutions.

Common services include currency exchange, spot transactions, forward contracts, and foreign currency accounts.

Banks allow customers to exchange currencies, buy and sell them, lock in future exchange rates, and hold balances in foreign currencies, thereby managing currency risk and facilitating international financial activities.

Banks offer various services to businesses involved in international trade, including trade finance, foreign exchange advisory services, online platforms for real-time exchange rates, currency risk management, and compliance with regulations like Anti-Money Laundering (AML) and Know Your Customer (KYC).