Foreign Exchange
Foreign Exchange market is known as the market in which currencies are traded. The Forex Market is expanding across the country due to extended business in home and abroad.
Trade is conducted over the counter (OTC). The international forex market is open 24 hours a day, five days a week, and these currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.
Community Bank has entered into this market and expecting to expand with all types of customers
The following products are usually offered in this market
Spot Transactions
Spot transitions are of
Forex, settled after two
days
Forward Transactions
Transactions beyond spot
settled after a specific
period
SWAP
Two parties transect certain
sum at a spread and
commit to reverse the
transaction at different
legs.