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Market Trader Glossary:
Nondeliverable Forward Contracts (NDF)
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Nondeliverable Forward Contracts (NDF)
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Definition: |
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Agreement regarding a position in a specified currency, a specified Exchange rate, and a specified Future settlement date, that does not result in Delivery of currencies. Rather one party in the agreement makes a payment to the other party On the Basis of the Exchange rate at the future date. |
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