SPOT TRANSACTION

Spot transaction (Spot trade) : Transaction between two parties Buying or Selling a certain amount of foreign currency against VND or another foreign currency at the spot rate at the time of transaction and settle within 02 (two) working day from the trade date. The time is < 03 (three) working days.

FORWARD TRANSACTION

Forward transaction (Forward trade): A transaction in which two (02) parties Buy/Sell to each other a certain amount of foreign currency at a Forward rate which is fixed on the trade date. The time is ≥ 03 (three) working days.

SWAP TRANSACTION

Swap transaction (Swap): A transaction between two parties which includes a buy and a sell transaction of the same amount of foreign currency against VND or another foreign currency, in which the settlement dates of the two transactions are different and the exchange rates of the two transactions are simultaneously determined on the trade date.

Swap can include two spots or two forwards or one spot and one forward. Swap between VND and foreign currencies must have at least one forward.