Initiate Forex Deal booking

Using this option corporate user can book the forex deals. This gives the corporate user more transparency . The corporate user can do the spot / forward/ swap forex deal bookings at the best prices for the different currency combinations. The corporate user can also view the indicative exchange rate for selected currencies used in deal booking.

The party must have been granted access to book deals.

Note: Only primary party can book a deal.

Prerequisites:

You are here How to reach here:

Dashboard > Toggle menu > ForexClosedForeign Exchange Currency Deal

To initiate forex deal booking:

  1. The View Forex Deal Booking screen appears.
  2. Click Initiate Deal to initiate a forex deal. The Initiate Forex Deal Booking screen appears.

Field Name

Description

Party Details

Party ID

The primary party ID of user.

Party Name

The name of primary party of user.

Deal Details

Deal Type

Type of Deal user wants to initiate.

The options are:

  • Spot
  • Forward
  • Swap

Swap Type

Type of swap deal wants to initiate.

The options are:

  • Spot - Forward
  • Forward -Forward

This field is enabled if user selects Swap option in the Deal Type field.

Duration

The permissible duration or option to choose a specific date for which deal will be valid.

The options are:

  • 1 Week
  • 1 Fortnight
  • 1 Month
  • 1 Quarter
  • 6 Month
  • 1 Year
  • Custom: Select the date range

This field is enabled if user selects Forward option and Forward- Forward option of Swap in the Deal Type field.

User can have a date of his own under the custom duration option.

Note: In case of Custom option, the total number of days should not exceed the limit of 365 days.

Validity

Displays the number of days as calculated for the selected period or duration.

This field is enabled if user selects Forward option in the Deal Type field.

Currency Pair

List of permissible currency combination in which user can book the deal.

Transaction Type

Transaction type in which deal is to be booked.

The options are:

  • Buy
  • Sell

Buy

The amount to be purchased in the selected currency.

Sell

The amount to be sold in the selected currency.

Currency

The currency in which buy or sell of currency transaction is initiated.

Exchange Rate

The Buy or Sell per unit rate for the chosen currency combination.

Swap Details

Below fields are enabled if Swap option is selected in Deal Type field.

Buy

The amount to be purchased in the selected currency.

This field is displayed, in case of Sell option is selected in Transaction Type.

Sell

The amount to be sold in the selected currency.

This field is displayed, in case of Buy option is selected in Transaction Type.

Exchange Rate

The Buy or Sell per unit rate for the chosen currency combination.

Duration

The permissible duration or option to choose a specific date for which deal will be valid.

The options are:

  • 1 Week
  • 1 Fortnight
  • 1 Month
  • 1 Quarter
  • 6 Month
  • 1 Year
  • Custom: Select the date range

This field is enabled if user selects Forward option and Forward- Forward option of Swap in the Deal Type field.

User can have a date of his own under the custom duration option.

Note: In case of Custom option, the total number of days should not exceed the limit 365 days.
  1. In the Deal Type field, select the appropriate deal type for forex deal booking.
  2. If you select Spot;
  3. If you select Forward;
  4. From the Duration list, select the appropriate period for which forex deal will be valid.
  5. If you select Swap;
  6. In the Swap Type field, select the appropriate option for forex deal.
  7. If you select Spot - Forward;
  8. If you select Forward - Forward;
  9. From the Duration list, select the appropriate period for which forex deal will be valid in Deal Details section.
  10. From the Currency Pair list, select the currency combination in which deal is to be booked.
  11. In the Transaction Type field, select the appropriate option for forex deal.
  12. If you select Buy;
  13. From the Currency list, select the currency to initiate the transaction with.
  14. In the Buy field, enter the amount user wishes to purchase in that currency.
    The system displays the Exchange Rate.

  15. Note: In the Swap Details section under the sell field the amount and currency gets defaulted of the entered value and the corresponding exchange rate gets displayed.

  16. If you select Sell;
  17. In the Sell field, enter the amount user wishes to sell in that currency.

  18. Note:
    In the Swap Details section under the buy field the amount and currency gets defaulted of the entered value and the corresponding exchange rate gets displayed.
    Click on View Limits link to view the daily limit applicable for deals.

  1. Click Initiate to initiate the deal.
    OR
    Click Cancel to cancel the transaction.
  2. The Review screen appears. Verify the details, and click Confirm.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate back to previous screen.
  3. The success message of forex deal booked along with the transaction reference number, host reference number, deal details.
    Click Book Another Deal to initiate another forex deal.
    OR
    Click Back To Dashboard link to go back to dashboard.

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