Bank of America (BAC) is simplifying the management of foreign exchange, or FX, risk associated with cross-currency payments and receipts with the introduction of Guaranteed FX Rates of up to one year, the longest tenor available in the industry. The bank said that using this strategic solution can help companies mitigate exposure to currency fluctuations and simplify treasury management processes such as forecasting and reconciliation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAC:
- Berkshire Hathaway sells 8.7M Bank of America shares for $369.9M
- Buffett’s Berkshire Cuts Bank of America (BAC) Stake Again with $370M Sale
- Bank of America upgraded to Accumulate from Neutral at Phillip Securities
- Bank of America sells 8.7M Bank of America shares for $369.9M
- BP mulls sale of minority stake in offshore wind unit, Reuters reports