StanChart concludes euro/US dollar derivative
Standard Chartered Bank, Bangladesh has continued to lead the way as it successfully closed the first euro/US dollar derivative deal in Bangladesh with Square Yarns Ltd, says a press release.
Square Yarns, a concern of Square Group, was exploring an innovative product to hedge its exchange risk against underlying euro exposure. Global Markets, Standard Chartered Bank, Bangladesh structured 'EUR/USD Zero Cost Option' to hedge exchange risk.
'Zero Cost Option/Range Forward' provides the customer with more flexibility by fixing a range of exchange rate.
Derivative is currently the most preferred product in the foreign exchange market for hedging exchange risk. Vibrant derivatives market in neighbouring countries has provided wide array of risk management tools and played a pivotal role in overall financial market development.
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