A contract between two parties to buy or sell an asset on a future date, at a price specified in the present.

Foreign-currency forwards are useful for hedging exchange-rate risk against currency fluctuations over time. A foreign-currency forward entails a future obligation to buy or sell foreign currency.

Types of Forward:

  • Traditional: the currency is exchanged when the forward reaches its expiration date
  • Cash: the currency can be exchanged before expiration, making partial* or full withdrawals against the agreed upon price and amount
  • NDF (Non delivery forward): the foreign currency is not actually exchanged; the client receives (or pays) the difference only if the forward ends up in the money (out of the money)


  • Manage foreign-currency risk: the client can be more certain about the cash flows they will need in the future, eliminating uncertainty in the price of the currency
  • A “tailor-made suit” that fits the specific conditions of each client
  • A zero-cost product

For more information on the most appropriate strategies for your needs please contact your account executive

Required documentation for individual clients

  • Current official ID of client or representative (s)
  • Proof of address (no more than 3 months old)
  • Electronic signature, when applicable
  • Statement of tax compliance (no more than 1 month old), including:
    • TAX ID (RFC)
    • Population registry code (CURP)
    • Tax address
    • Economic activity

Required documentation for corporate clients

  • Deed of incorporation (inscribed in the appropriate registry)
  • Power(s) of attorney registered with the Public Registry of Commerce, when applicable
  • Current official ID of representative(s)
  • Electronic signature, when applicable
  • Real beneficiary statement letter, when applicable
  • Statement of tax compliance (no more than 1 month old), including: Tax ID (RFC), Population registry code (CURP), Tax address, Economic activity, Tax regime