Foreign exchange risk

Protect your profits from fluctuating foreign exchange rates. Choose from our range of risk reducing options.

Foreign Currency Account

A Foreign Currency Account can simplify your banking if you make or receive payments in a foreign currency. It removes the need to convert every transaction to New Zealand dollars.

You can use it to

  • manage foreign currency cash flow
  • make advance provision for commitments in a foreign currency

Find out more about our Foreign Currency Accounts

Foreign Exchange Forward Contract

A Foreign Exchange Forward Contract allows you to exchange one currency for another on an agreed date in the future at an agreed rate.

A Forward may help you manage a currency risk you are exposed to. 

Foreign Exchange Option Contracts
Like an insurance policy, a currency option can provide you with peace of mind.  You can protect a certain exchange rate but also have the ability to participate if market rates move in your favour.  
For this flexibility a premium is payable up front, the cost depends on factors such as the volatility of currencies involved, the rate you want to protect and the maturity date of the option.    
For further information contact your branch or Business Manager who will refer you to the Dealing Room.  

Foreign Exchange Option Contracts give you the right (but not the obligation) to buy or sell one currency with or for another currency at an agreed exchange rate on a date in the future. 

You pay us a premium to enter into a Foreign Exchange Option Contract whether you exercise the Foreign Exchange Option Contract or not.

A Foreign Exchange Option Contract may help you manage a currency risk you are exposed to, while allowing you to benefit from favourable exchange rate movements that occur between the time you enter into the Foreign Exchange Option Contract and the expiry of the Foreign Exchange Option Contract.

For further information contact your local branch or Business Manager who will refer you to the Dealing Room.  

Market order

A market order is a request that you leave with Westpac to buy or sell a specified foreign currency amount, on your behalf, against another currency once a nominated Westpac exchange rate is reached.

The currency exchange will occur two business days after the order is executed. Once the order has been executed it cannot be cancelled.

There is no fee charged for placing orders. For further information contact your local branch or Business Manager who will refer you to the Dealing Room.  

Market information