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Currency exchange

Currency exchange

SEB bank provides:

  • Current and future settlements in all major currencies at a beneficial price and with high liquidity
  • Possibility to obtain a more favourable exchange condition depending on the volume of transactions and disposition

SEB bank offers currency exchange transactions to be performed with settlement at current day or with settlement in the future. More information you can get to our financial markets specialists.

SEB bank currency rates

Improved currency exchange rates

  • For transactions exceeding 10,000 EUR or an equivalent amount in another currency, SEB bank offers  improved exchange rate if transactions are  registered in Internetbank or in Branch;
  • Currency exchange transactions at improved exchange rate might be concluded if you have signed Agreement on execution of financial instrument transactions. This agreement you can sign if you do currency exchange transactions exceeding 10,000 EUR or an equivalent amount in another currency regularly. Currency exchange at improved exchange rate can be concluded upon during SEB bank’s business hours – on weekdays from 9.00 a.m. till 5.00 p.m. by calling 67215656.
  • Conditions of the transaction are stipulated in the bank's General business terms and conditions.

Immediate exchange of one currency against another according to currently valid rate

  • Spot is a currency exchange transaction performed in two business days;
  • For transactions exceeding 10,000 EUR or an equivalent amount in another currency, SEB bank offers improved exchange rate;
  • For more information call: 67215656.

Currency exchange transaction in the future according to a predetermined exchange rate

  • Forward is a currency exchange transaction in the future according to a rate valid when concluding the transaction;
  • By concluding a forward transaction, you can protect yourself against negative future exchange rate fluctuations and plan your company's cash flow more accurately;
  • To perform a forward transaction, you will need to conclude a contract with SEB bank;
  • The forward currency exchange transaction is irrevocable after reaching an agreement with the bank – both the bank and the customer undertake to perform currency exchange on the set date, in the specified amount and at the predetermined exchange rate;
  • For more information on forward transactions call: 67215656.

When is it useful to use forward transactions?

Forward transactions may be useful if you work in international markets and it leads to:

  • importing or exporting products with a predetermined price in a foreign currency;
  • paying a partner for goods or services in a foreign currency and the incoming/outgoing cash flows of the company in different currencies are predetermined.

Purchasing currency today and selling after a certain time

  • Swap is a currency exchange transaction when the parties agree upon current currency exchange rate and future rate. You undertake to sell/buy the currency bought/sold today back after e certain period of time according to the predetermined exchange rate. A Swap transaction enables you to temporarily use one currency instead of another and then reverse the exchange;
  • For more information on swap transactions call: 67215656.

When is it useful to use swap transactions?

  • Swap is used to optimise a company's cash flow, for example, when the company's payments are made in one currency, but it is necessary to make payments in another currency temporarily;
  • Swap transactions are often used to move the term of a concluded forward transaction to an earlier or later settlement date.

The right, but not the obligation, to buy or sell certain currencies at a specific time for a predetermined price

  • A currency option transaction gives the buyer of the option the right to choose to buy or sell a currency at a specific time for a predetermined exchange rate. The option buyer pays the seller an option premium which depends on the chosen currency pair, the exchange rate, the transaction term and other factors;
  • For more information on option transactions call: 67215656.

Options are suitable if you do not know precisely whether the planned payment will take place (e.g. when participating in tenders, etc.) and you wish to reduce the risk.

The 1st of November 2007, a common framework for services related to financial instruments is introduced in Latvia and across the EU. The basis is an EU-directive, the Markets in Financial Instruments Directive (MiFID), which, among other things, will simplify trading in financial instruments and related services across borders. Its purpose is to increase the competitiveness of Europe - and also to strengthen and harmonise investor protection for clients all over Europe.

The new rules emphasis the client's right to fair order handling - that the client's best interests are always in focus - regardless of the size of its transactions. This is nothing new to us, it is and has been a part of SEB's order handling routines since before. For SEB clients, the new rules will only bring about minor changes.

We may, among other things, have to ask you a few questions regarding your experience in trading with financial instruments and whether you are aware of the risks associated with the financial instrument you wish to invest in.

On July 4, 2012 the European Council adopted a directly applicable Regulation Nr.648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR), which adds a further condition of OTC derivatives transactions.

Read more

Descripion of Investment products and related risks

Professional Clients

Client Status

Frequently Asked Questions

Information About SEB and Its Investments Services

Order Execution Policy (effective as of January 17, 2017)

Order Execution Policy (effective till January 16, 2017)

Order Execution Venues

Description of Conflicts of Interest Policy

More about EMIR (LAT)

Services Fees

Cash currency exchange operation at SEB bank's branches

Cash currency exchange operation (per each deal)1, 2, 3, 4 5.00 EUR 

 


 

1 Improved exchange rate, starting from amount of 10,000 EUR or its equivalent in another currency, is applied during the working hours and standard exchange rate - during non-working hours.

2 Foreign currency coins are not accepted and issued.

3 We do not accept foreign currency banknotes which are dirty, worn, otherwise mechanically damaged (torn, worn surface, oil stains, burns) or with imprints of drawings, inscriptions or drawings of any size, as well as USD banknotes which have been issued before 1990.

4 Cash transactions in foreign currencies are effected at Rīdzene branch (on Vaļņu iela 11) and in the branches outside Riga that offer cash transactions.

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