FX spot is a transaction in which CUB and customer agree to buy or sell an amount of foreign currency at spot FX rate at the time of the transaction and the transaction shall be settled on the same day or in the two (02) business days from the transaction date.
Forward FX is the transaction in which CUB and customer agree to buy and sell an amount of foreign currency at a forward exchange rate determined on the transaction date and the transaction shall be settled at least three (03) business days (not longer than 365 days) from the transaction date.
Foreign Exchange Swap is transaction between CUB and customer to simultaneous buy and sell of identical amounts of one currency for another with two different value dates, in which, different FX rates are specified at the time of the transaction date.
