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wholesale vintage inspired costume jewelry Foreign exchange transactions have overnight interest. The specific interest is calculated based on the currency pair you purchased.
The delivery day for the foreign exchange market for the period is two days. The position opened on Monday should be on Wednesday. If the position opened on Monday is held overnight until Tuesday, then the next delivery day will be on Thursday. The position that was opened and extended on Wednesday was pushed from Friday to Saturday, but the delivery date is actually next Monday, because the bank does not open the bank on the weekend. There will be no extension.
Is when a transaction is pushed to the next delivery day, there will be extension. Any extension of any foreign exchange site will generate the difference between hedging or throwing, and this price difference is determined by the interest rate of the bank overnight to pay at the bank. If investors have a relatively high interest rate currency, when the foreign exchange parts are extended, investors can obtain the price difference between the currency interest rate.
For a combination of USD as the benchmark currency:
For example, USD/JPY: Assume that it is 100K (standard hand, 1 standard hand) account. Afternight to Thursday, PRMSLL%-2.18, then customers who sell US dollars will pay interest,
The calculation method is as follows:
-2.18%/hand x 3 days = $ 18.17) (Special precautions: Every time On Thursday, the overnight interest on the addition and subtraction will be three times the usual day, because the delivery actually occurs on the week 1 and 2 days after the weekend.)
The combination of cross currencies:
for example EUR/GBP: Suppose it is a 1K (0.01 hand) account. Buy 5-handed EUR/GBP on Friday. The market price is 0.6885/0.6890. Afternoon to next Monday, PRMBUY%-3.71, the customer who bought the euro will pay interest. The calculation method is as follows:
-3.71%/hand x0.6890x1 days = (￡ 0.355) = ($ 0.63)
If the customer is more (hold) a high interest currency, the overnight interest on the position will be added Inside the account of the account. Conversely, the relevant overnight interest will be deducted from funds.
In international banking practice, foreign exchange transactions are settled after two trading days. Overnight interest is calculated according to the settlement date.
Monday: 1 day fack of interest. Trading on Monday, settlement on Wednesday, on Monday to Tuesday, the settlement date is Wednesday to Thursday, so pay/collect 1 day interest.
Tuesday: 1 day overnight interest. On Tuesday to Wednesday, the settlement date is Thursday to Friday, so pay/collect 1 day interest.
Wednesday: 3 days overnight interest. Wednesday to Thursday, the settlement date is Friday to next Monday, so pay/collect 3 days of interest.
Thursday: 1 day overnight interest. It holds the position on Thursday until Friday, and the settlement date is next Monday to the next Tuesday, so pay/collect 1 day interest.
Friday: 1 daytime interest. Holding the position on Friday to next Monday, the settlement date is Tuesday to Wednesday, so just pay/collect 1 day interest
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