ABLV Bank, AS|
23 Elizabetes Street
Riga, LV-1010, Latvia
Tel: +371 6777 5222|
Fax: +371 6777 5200
Client line: +371 6777 5555
Due to continual execution of currency exchange transactions and wide partner network, we can exchange virtually any amount at favourable rate.
Once, when it was time to pay to the supplier and our client had dollars on his account, he saw that the dollar against the euro was growing, so he decided that it was not profitable to buy euros at the moment, and it would be better to do it later.
The client called us for advice. His private banker offered him to take an overdraft in euro secured by dollars the client had on his current account.
Thus the client would be able to pay in euro for the delivery immediately, and to convert later when paying off the overdraft.The client was correct in his forecast of currency rate change, and ultimately the cost of the overdraft was significantly lower than the rates difference that provided the client with an extra profit from the transaction.
Head of Private Banking Department West