Definition: Forward foreign exchange contract

Category: SNA

A forward foreign exchange contract involves two counterparties who agree to transact in foreign currencies at an agreed exchange rate in a specified amount at some agreed future date.

This definition is used both in SNA 1993 (§ 11.38) and in SNA 2008 (§ 11.121). http://ec.europa.eu/eurostat/ramon/statmanuals/files/SNA2008.pdf United Nations, "System of National Accounts (SNA) 1993", United Nations, New York, 1993
Source:
European Commission (Eurostat), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations (Statistics Division), World Bank, "System of National Accounts 2008", United Nations, New York, 2009
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