Forward
Agreement to buy or sell a certain currency for another at an agreed rate (forward rate) for delivery on a future date. The forward rate is a function of the spot rate, the interest rate differential between the two currencies involved, and the term of the contract. 
 

Benefits:	Allows hedging of foreign exchange risk in a volatile market, thereby protecting profits and fixing costs against adverse market conditions.
Minimum:	$50,000; subject to change
Requirements:	Forward foreign exchange credit lines required without which margin deposit of 20% to 30% is required.
Restriction :	No restriction for forward purchase of US Dollars while forward sale is available only for clients who present proper documents upon booking of forward.
Documentation:	Forward Contract for client’s signature, to be submitted within 3 banking days from trade date.
Disposition Upon Maturity:	Full delivery unless otherwise specified