How does locking an FX rate work?
Locking an FX rate means entering into a forward agreement—where you fix today’s exchange rate for a future payment. This is different from a spot contract, which is usually settled within a few days. With a forward contract, you can schedule your payment for a future date—up to 6 months ahead. It helps protect your business from currency swings and gives you more control over costs and cash flow. It’s ideal for planned international expenses like payroll, supplier payments, intra-company or loan installments. Instarem enables you to access this service via our partner Corpay.
Related FAQs
Why should my business consider locking FX rates? Why partner with Corpay for locking in FX rates? If I lock in a rate and a better one comes up later, can I switch? Is there a fee for locking FX rates? What’s the difference between FX hedging and forward contracts? Why should my business consider locking FX rates? Why partner with Corpay for locking in FX rates? If I lock in a rate and a better one comes up later, can I switch? Is there a fee for locking FX rates? What’s the difference between FX hedging and forward contracts?Didn’t find what you were looking for?
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