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VTB in Khabarovsk organized the first option on 100 thousand Yuan
The Khabarovsk branch of VTB organized a currency call option for OOO Promenergostroy, a regional supplier of polypropylene products from China. The deal was concluded in RMB, which makes it unique for the regional market. Its amount is 100 yuan, according to the bank's press office.
“As a result of the concluded transaction, the client will be able to purchase the required amount of currency at a predetermined rate or at market conditions - if on the date of execution of the transaction they turn out to be more favorable than the rate that the client has agreed with the bank. If the yuan rate at the time of the transaction is higher than the option rate, the bank undertakes to “deliver” the currency to the client at the option rate without charging any additional commissions. This is insuring the client against the risk of exchange rate fluctuations, ”commented Evgeny Orlov, VTB branch manager in Khabarovsk, on the deal.