Currency Forward
A forward contract that locks-in the price an entity can buy or sell currency on a future date.
Investopedia Commentary
In currency forward contracts, the contract holders are obligated to buy or sell the currency at a specified price, at a specified quantity, and on a specified future date. These contracts cannot be transferred.
Also known as "outright forward currency transaction."
Related Links
Futures Fundamentals
See also: Currency, Currency Future, Exchange Rate, Forward Contract