The Forward Product is a foreign currency purchase or sale agreement concluded between the parties regarding the predefined and guaranteed date, currency types, amount and currency rate of transactions to be carried out in the future.
The general purpose of this product is to stabilize the exchange rate risk of the person for the determined foreign currencies and to eliminate it.
- This product with cash blocked or limited types can be used for various foreign currencies including especially EURO, USD and Gold.
- A forward is a transaction that can be made by using two types of exchange rates classified as referenced or unreferenced.
- The transactions are carried out at Kuveyt Türk branches for the forward amounts above 10,000 USD and below 1.5 million dollars. In additions, transactions can be made with special referenced rates from Kuveyt Türk Treasury for the amounts exceeding 100,000 USD.
- The maximum term of a forward transaction is 370 days and cannot exceed this limit.