Asian Non-Deliverable Forward (NDF)

  • asian non deliverable forwardasian non deliverable forward

    Manage your FX exposures efficiently against non-convertible currencies

Features & Benefits

NDF is an efficient method of managing FX exposures against non-convertible currencies since there is no actual exchange of principal funds.

  • Non-Deliverable Forwards (NDFs) are conceptually similar to FX forward contracts; the difference is that they do not require physical delivery of the non-convertible currency.
  • A (notional) principal amount, forward exchange rate and forward date are all agreed at the contract's inception. At maturity, the difference between the contracted forward rate and the prevailing spot rate is settled in the convertible currency.
  • NDFs are cash-settled currency forwards which provide an offshore mechanism to hedge currencies which were previously considered "unhedgeable"; either due to emerging markets suffering from illiquidity or regulatory/settlement constraints.


We offer this facility for the following Asian currencies:

  • Chinese Renminbi (CNY)
  • Indian Rupee (INR)
  • Indonesian Rupiah (IDR)
  • New Taiwanese Dollar (TWD)
  • Philippine Peso (PHP)
  • South Korean Won (KRW)

Apply Now

  • To apply, all corporations have to set up a FX Line with the Bank. The FX line states the maximum amount and tenure that you may contract at any one time.
  • If your business currently has credit facilities (e.g. Letter of Credit, Trust Receipts or Overdraft line) with the Bank, you can arrange with your banker to restructure the credit line to accommodate the additional FX facility by earmarking a portion of the existing facilities.

More Information

For queries or comments, please:

Visit us at:

United Overseas Bank Limited
Global Markets Sales
80 Raffles Place
5th Storey UOB Plaza 1
Singapore 048624