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Currency Forward

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Currency Forward
A forward contract that locks-in the price an entity can buy or sell currency on a future date.

Notes:
In currency forward contracts, the contract holders are obligated to buy or sell the currency at a specified price, at a specified quantity, and on a specified future date. These contracts cannot be transferred.

Also known as "outright forward currency transaction."
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However, for guidance on determining the fair value of a foreign currency forward contract, CPAs should look to Statement no.
The decision on derivatives by Bryan, Barry J. / Journal of Accountancy
Under SEC and FASB accounting rules, currency forwards and futures must generally be revalued on a quarterly basis if they are used to hedge anticipated purchases rather than firm commitments.
Turbulent currency markets affect retailers by Abahoonie, Edward J. / The Tax Adviser
Futures and currency forward trading involve substantial risk of loss.
Deutsche Asset Management's Quantitative Strategies Group Launches ... by Business Wire
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