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Foreign Currency Transactions

Municipal Bank AD is an active participant on the foreign exchange markets and carries out cash transactions and trade at account in the major currencies.
Municipal Bank AD offers its customers and contractors the possibility of exchanging the major foreign currencies for BGN, as well as cross transactions between foreign currencies.
The Bank carries out the following foreign currency transactions in the country and abroad:

  • Foreign exchange for BGN with a spot value date. Currencies are bought and sold at prices contracted now, with delivery two days after the contractual date;
  • Foreign exchange for BGN with a forward value date. The forward value date contract is in essence a contract for sale-purchase of a certain amount of foreign currency, where the currencies are bought and sold at prices negotiated now, but with future delivery date at a so-called forward rate, without the necessity to transfer funds before the contracted future date;
  • Foreign exchange for other currency with a spot value date;
  • Foreign exchange for other currency with a forward value date;
  • Swap operations. The swap agreement is an agreement for swapping an amount in one currency for another with an arrangement for their reverse swap on a definite future date and at a preliminarily agreed upon rate, allowing for optimal current liquidity management of the currency needed by the customer;
  • Buying and selling of options. An option grants a right but not an obligation to buy or sell an underlying currency at a preliminarily agreed upon rate (price of exercising) on a specific date (European Option), or on any trading day until the specified future date (American Option). Buying an option the buyer minimizes the possible losses in the event of unfavourable movement of the foreign exchange rate up to the amount of the premium paid (the price of the option), at the same time keeping the possibility of profiting from a favourable movement;
  • Buying and selling of futures. A futures contract is a standardized contract traded on an exchange to buy or sell a specified quantity of a financial instrument at a specified future date at a price agreed on the date of the deal;
  • Bullion transactions. Municipal Bank AD has a long time experience in concluding deals on the precious metal markets. It offers its customers gold and silver in the form of Bulgarian commemorative and foreign investment coins and other valuables, maintaining a rich assortment of items. The Head Office and the financial centres of the Bank offer some of the most popular gold and investment coins, bullion and other types of investment gold, with authenticity guaranteed by a certificate.

Exchange Rates 18.10.2021

Buy 1.94620
Sell 1.96000
BNB Fixed Rate 1.95583
Buy 1.65080
Sell 1.72780
BNB Fixed Rate 1.68577
Buy 1.79630
Sell 1.86630
BNB Fixed Rate 1.82294
Buy 2.27840
Sell 2.35840
BNB Fixed Rate 2.31821

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02/93 00 181
24/7 telephone No. for our cardholders