Well with the help of this, you not only can stay updated but also take appropriate action of covering the required position. This tool helps in those transactions where the value is less than USD 0.25 million.
— Form for submitting for fx alert
What does Alert and Cover feature in Fraktal offer?
Alert and Cover helps you set a rate alert for different types of forex transactions with foreign currency amount less than USD 0.25 million or equivalent that notifies you as and when your target rate, including your bank margin, entered in the App is traded in the forex market for the first time since you have set an alert and sends TPO instructions to Fraktal Dealing Team to book your forex deal, for which the alert has been set, with your bank at the target rate set by you.
Alert and Cover can be used for both import and export forex transactions including cash, tom, spot, forward booking, forward cancellation, EEFC conversion and Export Bill Discounting (both in foreign currency and INR).
Alert and Cover can be used for which currency pairs?
Alert and Cover can be used for seven currency pairs, namely USD/INR, EUR/INR, JPY/INR, GBP/INR, EUR/USD, GBP/USD and USD/JPY.
What is the validity of a rate alert set on Alert and Cover?
The validity of a rate alert set on Alert and Cover for cash, tom and spot transaction is the maturity date itself. For all other transaction types, any calendar date can be set as the validity date.