Bank of America extends guaranteed FX rates up to one year

Bank of America (BAC) is simplifying the management of foreign exchange, or FX, risk associated with cross-currency payments and receipts with the introduction of Guaranteed FX Rates of up to one year, the longest tenor available in the industry. The bank said that using this strategic solution can help companies mitigate exposure to currency fluctuations and simplify treasury management processes such as forecasting and reconciliation.