Regulatory Alerts2018-10-28
Added · Updated
FEPD Circular No. 30: Forward sale and purchase of foreign exchange-flexibility
Authorized Dealers may renew, roll over, or extend forward contracts for new delivery periods at prevailing market rates if customers cannot perform due to changed requirements, passing any resulting gains to customers and retaining them in margin accounts. Forward contracts may be executed on outright full settlement or net settlement on a non-deliverable basis, allowing short-term non-deliverable contracts with roll-over flexibility until ultimate deliverable settlement. These instructions apply to resident business entities to satisfy bona fide needs and are effective immediately.
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