Non-Deliverable Forward

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Non-Deliverable Forward

A forward contract on a low-volume or inconvertible currency that cannot be settled by delivery of the underlying. In a non-deliverable forward, the parties net the difference between the exchange rate listed in the contract and the spot rate, and one party pays the other that difference. They are usually settled in U.S. dollars. Multinational corporations sometimes use non-deliverable forwards to hedge against risk associated with comparatively illiquid currencies.
References in periodicals archive ?
Following a series of intense firefights along the road to Sadad on Thursday afternoon, the Syrian Army's 120th Brigade - backed by the SSNP and the NDF - countered the terrorist group, recapturing several sites lost to ISIL the night before; this includes the Hawareen-Sadad checkpoint.
Three NDF partner countries with similar characteristics shall be selected as reference and observer countries.
The NDF likewise called for the release of political prisoners, some of whom were negotiators and peace consultants who have immunity from arrest -- based on an agreement signed by the Philippine government and the NDF in 1995.
Since its launch BGC has seen strong interest in INR NDF trading across its SEF and off-SEF platforms.
The NDF is headed by Luis Jalandoni, a former Roman Catholic priest.
His spiking was very fast and well-targeted, to the point where the NDF team had a hard time blocking him.
These bodies within the NDF sprang up among many different segments of Syrian society, contrary to the assumption outside Syria that the NDF and other militias were entirely or mainly Alawite.
Aqil Farooqi and NDF Chief Shahid sensitized the participants on the importance of preventive treatment.
Assets of the NDF are projected to reach $70 billion in the current Iranian calendar year.
Within a month, Singapore's bankers had found a way round the obstacle by establishing the rupiah NDF market - similar to what traders had done previously in Latin America, Eastern Europe and elsewhere in Asia.
NDF resources will be used to finance development of climate change adaptation and mitigation action plans for midsize cities in Bolivia, Honduras and Nicaragua.