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.
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References in periodicals archive ?
Some 23 percent of the revenues from the mentioned sources went into the NDF in 2013.
Qassemi stated that another two billion dollars of the NDF's funds will be assigned to the development of South Pars gas field's projects and the remainder will be paid to the projects that are under development by the National Iranian Offshore Oil Company (NIOOC).
A foreign-bank manager noted that the move is meant mainly to underscore the CBC's determination in stabilizing the NT dollar's exchange rate but only has limited actual significance, due to the small size of NDF trading.
With government decision of postponement of NDF, the Ministry of Finance has started informing donors about the cancellation of NDF.
The objectives of this study were (i) to create divergent populations for NDF concentration and (ii) to identify RAPD marker changes during two cycles of divergent selection for NDF concentration, for eventual application of MAS to improve the efficiency and cost-effectiveness of phenotypic selection for reduced NDF concentration.
Bello signed the agreement for the government while NDF chair Luis Jalandoni, an NDF leader based in the Netherlands, will sign for the rebels.
Last night NDF told us: "The returns must be seen in the context of a 62 per cent fall in the stock market over three years, the worst period of performance in post-war history."
He emphasised that sport should be supported adequately to enable men and women in uniform to participate both regionally and internationally as recorded in the history of NDF by international athletes such as Paulus 'Ali' Nuukmbembe, Reinhold Iita, Hilarias Johannes, Paulus Ambunda amongst others.
He was also designated as one of the spokespersons of the NDF panel in peace negotiations held in Europe.
'The NDF as an organisation is not in the habit of joining issues with individuals whose known antecedent is to cause a distraction on critical government business such as this, and in times past when he sued the federal government for stopping the sale of petroleum products in Jerry Cans.
Sison for saying that National Democratic Front of the Philippines (NDF) negotiator Luis Jalandoni and his wife did not go through with their trip back to the country for security reasons.