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   BOC Singapore >> Personal Banking >> Remittance & Exchange

Foreign Exchange


 

Introduction

Foreign Exchange transaction refers to the conversion of one currency to  another currency based on same day exchange rate but settlement is two business days after trade date. The settlement day is the value date. The value date will be brought forward if it falls on a non-working day or on a public holiday. The rate of Spot Transaction of Foreign Exchange is called Spot Rate. In order to serve our customers better, we provide exchange rate for today settlement and next day settlement besides Spot Rate.

Product Features

Foreign Exchange transaction can meet the needs of the customer when making urgent payment of currency other than the currency on hand or investment denominated in currency other than currency on hand.

Eligible Applicants

Individual customers

Application Requirements

No specific requirement

Application Procedures

Individual customers have to open a multi-currency account with the Bank.  Once the account is opened, the customer can trade at the Bank’s counter or call the Bank’s foreign exchange dealers.

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