Forex Cover

Mar 28, 2014 (LBO) - BRAC Lanka Finance Plc, said it had hedged the foreign exchange risk of a two million US dollar loan from its parent by creating a forex deposit and borrowing rupees against it.
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BRAC International Holdings BV has given 3-year 2 million US dollar loan to BRAC Lanka at 7.
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0 percent a year.

BRAC Lanka had placed it in Sri Lanka's Seylan Bank at 4.

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0 percent a year.

Using the dollar deposit as security, BRAC had borrowed rupees at 9.

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5 percent.

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