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Treasury & Foreign Exchange


Treasury

Our Treasury department has a wide range of foreign exchange products and services to cater for customer’s different commercial activities, hedging requirements and investment needs. With a connection to world markets on a real time, up-to-the-minute basis, we will offer you timely and accurate information to assist you in making those very crucial financial and business decisions. We boast of a robust network of international correspondent banks and have representation in all the major financial centres around the globe.
Make the right connection by visiting our dedicated Foreign Exchange counters at all our branches countrywide, and enquire for any of these services;

        1. SPOT Transactions:
          Purchase and Sale of Forex whose settlement is between one to two working days.
        2. Forward Contracts:
          Enjoy expert advice on booking your preferred forex rates ahead of time thus benefit from higher returns, higher savings and hedging against currency fluctuations in the future.
        3. Bureau de Change:
          The bank offers competitive exchange rates at both retail and corporate levels.
        4. SWAPS:
          A hedging instruments where counter parties agree to exchange one stream of cash flow (international currencies) against another stream over a given period of time to cover against exchange rate fluctuations.
        5. Research and Market Updates: Continuous market updates are provided by ABC Bank. That allows you to keep abreast of the latest currency news and trends.
FOREX RATES
Rates are updated on daily basis.
FCY BUYING SELLING
USD 3465 3490
CAD N/A N/A
GBP 4920 5020
EUR 3730 3830
INR N/A N/A
AED N/A N/A
ZAR N/A N/A
KES 33.50 34.50
TZS 1.540 1.64
RWF N/A N/A

Foreign Exchange

What is it? 
The foreign exchange (forex or FX) market refers to the market for currencies. Transactions in this market typically involve one party purchasing a quantity of one currency in exchange of paying for another quantity of another. The FX market is the largest and most liquid market in the world and includes trading between large banks, central banks, currency speculators, corporations, governments, other institutions and individuals.