Foreign Currency Holding Balances
Foreign currency balances for businesses of all sizes
Ruesch's Foreign Currency Holding Balances let businesses of all sizes maintain reserves of foreign funds from the disbursement of Spot Transactions, Forward Contracts, and Standing Orders. The funds may be used to execute outgoing payments in the same foreign currency or may be converted into another currency at any time. There is no simpler or more affordable way to centrally manage foreign payables and receivables.
Used in combination with market monitoring and risk management tools, Holding Balances enable businesses to strategically buy foreign funds when the market is favourable and store them in anticipation of upcoming payment needs. Additionally, Holding Balances can be leveraged for cross currency settlement when a cross rate offers a greater potential for savings than the rate against AUD.
Foreign Currency Holding Balances are a perfect alternative to the numerous restrictions applied to traditional accounts with foreign banks. Ruesch's Foreign Currency Holding Balances also provide the flexibility of no account balance requirements so you never have to worry about keeping funds tied up just to meet an account minimum.
Who can benefit from using Foreign Currency Holding Balances?
- Businesses that send and receive international payments
- Businesses that employ market monitoring and risk management tools to time the purchase and repatriation of foreign funds with favourable market movements
