Forex & Treasury Services

Forex & Treasury Services

UCO operates in the Forex Market in India as well as abroad. In India the inter-bank forex operations is centralized at our Integrated Treasury Branch in Mumbai, country's undisputed financial hub. UCO's Forex Branches undertake customer transactions. The forex requirements of customers of other branches are also routed through these branches. Overseas branches undertake the forex treasury operations in Singapore and Hong Kong centre.

All the forex treasuries are equipped with state of art technology and professionally skilled staff to handle forex treasury operations efficiently.

UCO deals in all the important international currencies. Our Forex Treasuries generally undertake the following treasury related activities:-

  • Forex Inter Bank Placements/Borrowings
  • Sale & Purchase of currency on behalf of customers
  • Forward Cover Bookings
  • Cross Currency Swaps
  • Interest Rate Swaps (IRS)
  • Forward Rate Arrangements (FRAs)
  • Forex Money Market Operations

Forex Services For Corporates

To improve the standard of service to the valued clientele, UCO has integrated its Forex and Domestic Treasury Operations under one roof in Mumbai. UCO's Forex Inter-bank desk at Treasury Branch is an active market player. UCO's integrated operations at one place in Mumbai enable it to participate in inter-bank transactions on a large scale. Forex Dealing Rooms in Singapore and Hong Kong and a worldwide network of correspondents add to UCO's strength in providing the best forex corporate services.

Authorised Forex Branches spread across the country cater to needs of all customers in foreign exchange. Corporate Forex Services include Foreign Currency Sale & Purchase, Forward Booking, Cross Currency Forward etc. Other products like Collection & Negotiation of Export & Import Bills under LC, LC Issuance, Advising & Confirmation Services, Arrangement of Trader Credits, the guarantees on behalf of Indian Corporate/Projects, EEFC Accounts, and Remittance etc. are all available to corporate customers from UCO.

UCO is establishing a Derivative Desk in India to offer various Derivative Products, such as IRS, FRA, Cross-currency Options, Currency Swaps with Cross-currency Interest Rate Swap etc. With this UCO will also offer structured products suitable for Corporates who have large receivables or payment obligation in foreign currencies. Derivative Desk will deal in hedging products to hedge the market risks i.e. interest rate risk and foreign exchange risk in Bank's balance sheet.