Open an NRI Account
A forward cover is a contract involving sale or purchase of currency at a fixed price on a fixed future date, arranged or bought as a hedge against adverse exchange rate fluctuations. NRI clients of DBS Treasures have access to FCNR / NRE Deposit with forward cover option to take advantage of reduced risk and earn better returns.
In this option a FCNR / NRE deposit is booked and a forward cover is taken to provide fixed returns to the client in foreign currency. There is no currency fluctuation risk involved in this if the client stays till maturity.
In this option a FCNR deposit is booked and a forward cover is taken to provide fixed returns to the client in local currency (INR). There is no currency fluctuation risk involved in this if the client stays till maturity.
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