An FCIF transaction effectively extends a credit window to the importers in foreign-currency to meet their obligation usually to retire the Letter of Credit (LC). The importer buys FCY at the prevailing rate to settle the FCIF.
An FCIF transaction effectively extends a credit window to the importers in foreign-currency to meet their obligation usually to retire the Letter of Credit (LC). The importer buys FCY at the prevailing rate to settle the FCIF.