First FX derivatives deal in Bangladesh
NEWS
The bank structured a USD/JPY zero cost range-forward to hedge the exchange risk of an undisclosed corporate in Bangladesh against its imports. The trade closed on May 24, and was valued at ¥134 million with a tenor of one month.
Range-forwards provide greater flexibility by fixing a range of exchange rates as compared to a fixed exchange rate in forward covers.
Alamgir Morshed, head of global markets at Standard Chartered in Dhaka, said the range-forward will also increase market depth.
The
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