A wide variety of financial products and investments for managing risks deriving from the movements of the exchange rate markets.
The exchange rate is the buy-sell price on the currency market (Forex market) for a pair of currencies at a specific point in time,with settlement occurring before the end of the second business day following the transaction. Withspottransactions, when buying and selling currencies the number of days that pass between the transaction date and the settlement date (delivery of the currencies) does not exceed two business days.
The forward rate is an exchange rate established when an operation is formalized for performing future transactions that will take place after a specified amount of time (more than two business days), and in which the currency pair is exchanged or settled by differentials. That makes it possible to establish an exchange rate on the currency market for a specific future date, as a way of managing exchange rate risk. For a company with international operations, one type of risk associated with possible losses or uncertainties related to payments made or received is caused by fluctuations in currency prices (exchange rates). However, there are a variety of products or currency transactions that can be used to manage exchange rate risk.
Currency pair: These are the two currencies involved in a given operation (product).
Reference rate (fixing): This is the exchange rate established for the currency pair as determined and published by the European Central Bank on the Reuters ECB37 page.
Exercise price or strike price: this is the exchange rate at which the purchase/sale of a currency pair will take place if the conditions agreed upon for the operation are met.
Nominal amount: This is the number of units of one of the currencies from the currency pair that will be exchanged (bought or sold) at the specified time. The currency in which the nominal amount is defined is referred to as the base currency.
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