Transaction date: the day the
contract is signed
Validity date: Spot payment date +
Forward rate is determined based on
spot rate and differencedifferene between interest rate of bid currency and ask
Forward rate = Spot rate + Forward
Forward point = (Spot rate *Difference
of interest rate * number of forward days)/360*100.
Transaction term: from 3 to 365
Transfer via the Nostro account with
foreign banks or with the Operations Centre of the State Bank of Vietnam.
For financial institutions
customers: directly contact Foreign Exchange Dealing Department – Agribank Operations Centre.
Forward is carried out by means such
as: Reuters, phone, fax,...
Forward transactions with with
financial institutions that have not participated in Reuters system is
conducted by signing contract via Fax, the original contracts sent via EMS.
When dealing is completed, Agribank
Operations Centre put the transacted data into the IPCAS system.
Chairman of BOD of Agribank
determines the loss limit in fund and foreign exchange trading for Agribank
Trading limits applying to financial
institutions in each period are determined by General Director of Agribank.