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Non Principal Delivery Forward Contract (NDF) in USD to CNY

Product Characteristics

  1. Scope of trading subject matter: Any one with the needs for foreign exchange receipt and payments in CNY can apply for the service. 
  2. Term of contract: The term of contract is limited to within one year. 
  3. Type of contract: Fixed maturity date  
  4. Settlement upon maturity: Difference settlement in USD. 
  5. Contract amount: The minimum notional amount of each transaction is equivalent to US$ 500 thousand in principle. 

Use Timing

  1. When the exchange rate of USD to CNY is expected to depreciate or payment in CNY is a fixed cost such that an exchange rate is locked in, it is able to pre-sell the NDF in USD to CNY. 
  2. When the exchange rate of USD to CNY is expected to appreciate or to ensure profit in income in CNY such that an exchange rate is locked in, it is able to pre-purchase the NDF in USD to CNY.