Dara-Salaam Money Exchange
Bringing Our Expertise to You
Dar Salaam Bank foreign exchange services can help business owners and managers understand the factors affecting the value of the U.S dollars versus Somaliland shillings or U.S Dollars versus other world currencies, and help you minimize the risks involved in international or local business.
If your company buys or sells outside of Somaliland, you are already participating in the foreign exchange market. In simplest terms, foreign exchange consists of trading one currency for another, such as converting to or from U.S. Dollars, Euros, or any other foreign currency in order to make or receive a payment for your business.
By using DSB Bank’s foreign exchange services, your business benefits by:
- Being able to obtain the current foreign exchange rate for a specific currency ahead of time to ensure that the required amount is paid or received, resulting in zero shortfalls for you;
- Taking advantage of the best exchange rate as foreign exchange providers in other countries often charge much higher rates than what we charge in Somaliland.
- Working with knowledgeable advisors who can help you understand the factors affecting the value of the Somaliland versus other world currencies, and how to manage the risk involved in currency fluctuations.
- Having access to more than 30 foreign currencies.
Foreign Exchange Products and Instruments – Spot Transactions.
A spot transaction is the exchange of one currency for another at a specified rate (spot rate) for “immediate” settlement. Immediate settlement for US dollars and ALL foreign currency is done on the same or next business day. All other currencies generally trade based on a two day settlement period.
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