What the hack is NDF???
What is a 'Non-Deliverable Forward - NDF'
A non-deliverable forward (NDF) is a cash-settled, short-term forward contract in a thinly traded or nonconvertible foreign currency against a freely traded currency, where the profit or loss at the settlement date is calculated by taking the difference between the agreed upon exchange rate and the spot rate at the time of settlement, for an agreed upon notional amount of funds. The gain or loss is then settled in the freely traded currency.
NDFs are commonly quoted for time periods from one month up to one year; are most frequently quoted and settled in U.S. dollars; and have become a popular instrument for corporations seeking to hedge exposure to foreign currencies that are not internationally traded or whose trade is limited or legally restricted in the domestic market.
Read more: Non-Deliverable Forward - NDF Definition | Investopedia http://www.investopedia.com/terms/n/ndf.asp#ixzz4QKOhSem1
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