1. A financial derivative contract in which two parties agree to exchange currencies at a specified future date at a predetermined exchange rate
The company entered into a currency forward to hedge against fluctuations in the euro exchange rate.
A empresa celebrou um contrato de câmbio a termo para se proteger contra flutuações na taxa de câmbio do euro.
2. An over-the-counter (OTC) financial instrument customized between two parties, unlike standardized futures contracts
Currency forwards are often used by multinational corporations to manage foreign exchange risk.
Os contratos de câmbio a termo são frequentemente utilizados por corporações multinacionais para gerenciar o risco cambial.