Lock FX

Lock FX is designed for clients who wants to stay free from the loss of FX fluncutaions. Clients can place an order which will get settled in future - up to 90 days. Lock FX delivers the foreign exchange on a certain date (more than two business days after the deal date) in the future according to the foreign exchange currency, amount and exchange rate agreed with PingPong.

Example

A cross-border online retail seller receives Euro every day but needs Chinese Yuan to pay his vendors. The client was worried about the fluctuations of EURCNH rate so she entered into a forward contract with PingPong Intelligence at the beginning of 2020 with the rate of 7.95 for 6 months. With the rate fixed at 7.95, the client was able to convert his Euros at a better rate than the fist half year’s average, which is 7.76.