Solutions

Five Day Rates (FDR)

The FDR's are reached by calculating the average of the exchange rates for the five banking days ending on the 25th of each month.  This calculation is based on the average between the buying and selling rates and the rates are expressed in USD, EUR, and GBP.  FDR's are used by the ICH Members to convert their interline billing into the currency of billing.  The previous months FDR's are used for the current months interline billings.  The process developed to calculate the FDR's also contains a function to identify differentials of over 10% between one month and the next.