Forex Markets overview

KASB has one of the most active inter bank and corporate desks among the upcoming banks of the industry, offering its customers a wide variety of foreign exchange products and services. The KASB FX desk offers some of the narrowest bid offer spreads and quickest online quotes to meet the needs of its customers, whether they are related to trade, remittances or other forex flows.

Products and Services

The KASB Bank FX desk offers its customers a vast variety of FX products including:

Ready Purchase/Sale

The KASB Bank corporate desk provides all corporate and commercial customers the latest market rates for all transactions equivalent to US $5,000/- and above. For amounts less than US $ 5,000/-, the rates mentioned in the rate sheet are applicable.

Forward Purchase/Sale (Import/Export)

The Treasury also provides rates for forward transactions allowing customers to book their forex exposure against any future volatility in the concerned currency. The forward transaction can be booked for six months both with full and fixed option.

Outward Forward Sale (OFS)

The outward forward sale allows Importers with L/Cs to book rates on their future commitments in order to hedge against any rate fluctuations and volatility.

Outward Forward Purchase (OFP)

The outward forward purchase allows exporters with L/Cs or contracts to book rates for their receivables in order to hedge against any future rate fluctuations.

Foreign Bill Purchase (FBP)

This facility allows customers to present their export bills and immediately receive rupee facility. The bank purchases and discounts the documents and receives the proceeds upon the maturity of the bill ranging from 12days to 180 days.

Foreign Currency Financing (FCF)

The Foreign Currency Finance (FCF) facility allows exporters to avail foreign currency loans on LIBOR based interest rate for up to the maximum of six months.

Foreign Currency Import Financing (FCIF)

The Foreign Currency Import Finance (FCIF) facility allows importers to avail foreign currency loans for up to six months against DA or sight L/C using LIBOR based interest rates.

Foreign Currency Bill Purchase (FCBP)

This facility is offered to export customers with outstanding foreign currency finance. Exporters adjust the loan by discounting the bill amount of the export document with respect to the specified tenor at LIBOR plus spread.