Exchange rate hedge products

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and currency operations

If you wish to take out exchange rate insurance


901 191 000

Monday to Friday, between 8:30am and 3pm.

Exchange rate hedge products will help you to manage your foreign currency operations efficiently, ensuring that any fluctuations in the different currencies you work with will not affect your business.

We can offer you two types of exchange rate insurance:

  • Closed exchange rate insurance: this is a commitment to buy or sell currency at term when the amount and expiry date are known. The customer is, therefore, required to buy or hand over said currency on the agreed expiry date.
  • Open exchange rate insurance: the customer commits to buying or selling a maximum amount of currency at an end date in the future, but may make partial usage at the agreed exchange rate, until the insurance expires.


  • You must have a Foreign Trade Facility in place.
  • 10% of the amount of insurance taken out will be allocated to your Foreign Trade Facility as risk.
  • Exchange rate insurance is a complex product within MIFID regulations. Hence, the customer has to meet all the requirements set out by this directive in order to take out this product.
  • The customer must have registered with the Telephone Banking service so that, when you call to take out this product, you will be identified and the call will be recorded for your security.


  • Exchange rate insurance is designed to cover a foreign trade operation. In other words, you must clearly understand your requirements and payment/collection dates in order to choose between open or closed exchange rate insurance.
  • Exchange rate insurance constitutes an obligation for the customer to buy or sell currency.