Demistifying foreign exchange 

Businesses like yours may be missing out on the benefits of transacting in foreign currencies — from saving costs and improving relationships to opening up new markets overseas. Whether you are new to FX, or not sure how and when to take advantage, we can help you make it simpler. See below for more on how FX works, then visit our FX solutions page to get started.

How do FX markets work?

The foreign exchange market is a global, decentralized marketplace for the trading of currencies. It determines the price for each currency and is typically used to settle cross-currency payments and hedge currency risk.

Why transact in foreign currencies?

Whether you’re entering one or multiple overseas markets, your choice of transaction currency has important implications. Learn why paying in U.S. dollars isn’t necessarily the best approach.

Ready to get started?

  • For more information, please contact your Bank of America representative.