Foreign exchange service

We offer a comprehensive foreign exchange service and competitive exchange rates. Rates are available in all freely floating currency pairs for value today, tomorrow or at spot.

Our specialist staff can design a foreign exchange solution that delivers an appropriate level of certainty and opportunity for your business, while minimising risk.

The foreign exchange market
The foreign exchange market is the result of international trade and capital transactions between countries. It facilitates those transactions by enabling one currency to be converted into another.

Activities that may give rise to the need for foreign exchange transactions include:

• Exporting
• Importing
• Foreign currency borrowings
• Foreign currency investments
• Profit and interest repatriation
• Other payments and receivables in foreign currencies

Spot and forward market
The foreign exchange market can be split between the spot and the forward markets. A spot transaction enables the purchase or sale of one currency against another, where the exchange rate is agreed today for physical delivery in two business days. It is possible for a foreign exchange transaction to be settled prior to the spot date.

Settlement on the same day is known as value 'tod' or value today. Settlement on the next business day is known as value 'tom' or value tomorrow.

• Important information about advice
  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on this advice, consider its appropriateness to your circumstances.
  
  Foreign exchange service is issued by the Commonwealth Bank of Australia, view our Financial Services Guide (PDF 59kb). View a Product Disclosure Statement (PDS) for Foreign Exchange (PDF 128kb) and consider it before making any decision about this product.
  
  If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221.