9th March 2023 – Ebury, the global financial services firm and one of Europe’s leading fintechs, has expanded its online platform capabilities with the addition of a further 17 Exotic Currencies.
The following currencies are now available via Ebury’s online portal (“EBO”) which can be traded against EUR, GBP, and USD with value date spot (T+2): Ethiopian Birr, Ghanaian Cedi, Kenyan Shilling, Malagasy Ariary, Malawian Kwacha, Mozambican Metical, Rwandan Franc, Sierra Leonean Leone, Tanzanian Shilling, Ugandan Shilling, Central African Franc, Zambian Kwacha, Namibian Dollar, Papua New Guinean Kina, West African Franc, South African Rand, and Nepalese Rupee.
The expansion of Ebury’s Exotic Currency coverage further strengthens its position as one of the leading providers of FX solutions in this space.
It means Ebury’s clients – particularly charities and NGOs who most commonly use Exotic Currencies – will benefit from the ability to seamlessly book spot trades for these currencies directly on EBO and benefit from up-to-date exchange rates.
Whilst customers can speak to Ebury’s currency experts should it be needed to manage their FX risk, adding these capabilities to the online platform will empower customers to trade 24/7 without having to call their account manager first. This allows customers to trade in these currencies with more flexibility and control.
Cornelius Clarke, Head of Desk at Ebury, said: “We are delighted to expand our online portal with these additional capabilities, which will help us to further strengthen our market-leading position in this space.
“Charities and NGOs are particularly in need of providers able to service a wide range of Exotic Currencies to make their operations as efficient as possible and maximise their outstanding contributions in these countries.
“The sector has long experienced challenges in sending money overseas effectively to maximise their fundraisings. Without specialist solutions, charities and NGOs are left exposed to high conversion costs and transaction fees as well as volatility in currency markets.
Our bespoke service powered by innovative technology with its unique geographical reach and currency coverage further builds on our reputation as the FX specialist in this field.”
