Presently, ICCS is using a Citibank Treasury product called "FX Benchmark". It is a new development in FX trading that "locks-in" FX rates based on benchmark rates derived using various inter-bank market rates. The process is very transparent and audited by independent auditors. Information on our Forex Conversion Policy for freely convertible currencies is available on our website www.iata.org/iccs under Forex Conversion Policy. In cases where currencies are not freely convertible, IATA has negotiated separate local FX conversion policies. Please contact ICCS for specific details. |
