Wed 18th July 2012
To fix the currency exchange rate, you use what’s called a forward contract. This is when you look at the existing exchange rate and lock it in, so that you can then transfer your money abroad at that exchange rate, any time you want during the next two years.
There’s no special fee associated with doing so: the one proviso is that you transfer an initial 10.0% of the final sum. Obviously, given that you’re locking in the exchange rate, it’s best to do so only when you’re happy with the exchange rate you’re getting.
To arrange a forward contact for your foreign exchange transfer, contact us at foreign exchange broker Pure FX.