Finance, Currency
Currency transactions are a special type of financial transactions
Currency transactions are transactions, the subject of which are monetary values. They must be regulated by legislation or by certain international agreements.
When crediting or debiting funds to an account, in some cases, a certificate of currency transactions may be required. It is provided to the bank to monitor the client's finances. It specifies the tax ID, account number and some other data.
Currency operations are an object of both banking and state supervision and control. Consider their main types, which are used in the international market.
Spot is the immediate supply of money. It accounts for 9/10 of all transactions of this category. The exchange rate is strictly fixed for the time of delivery. The essence of this operation is the acquisition of foreign money through banks that are contractors, 3-4 days after the transaction was concluded.
"Swap" (exchange) - purchase and sale of two types of currencies, their immediate delivery. This is combined with a simultaneous counter-transaction using the same types of banknotes. Thus, the bank sells the currency with the condition of immediate delivery and simultaneously buys it. This operation can be carried out not only with money, but also with interest, gold, loans, securities, etc. There is an international corporation of dealers specializing in "swap".
Often, there are urgent transactions. Such currency transactions are a mutual agreement on the delivery of foreign money after a certain time after its conclusion. In this case, the course, which is guided, is indicated in advance. In fact, it is fixed at the time of the transaction.
Arbitrage currency transactions - is an attempt to buy bank notes cheaper,
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