Forward Contracts: Lock In Your Exchange Rate<\/title>\n<style>\n *, *::before, *::after { box-sizing: border-box; margin: 0; padding: 0; }\n :root {\n --navy: #002F6C;\n --grey: #768692;\n --black: #211E16;\n --light: #F4F6F9;\n --border: #DDE2E8;\n --accent: #C8A84B;\n --text: #2C2C2C;\n --font-body: 'Georgia', 'Times New Roman', serif;\n --font-ui: 'Segoe UI', 'Helvetica Neue', Arial, sans-serif;\n }\n body { font-family: var(--font-body); font-size: 18px; line-height: 1.75; color: var(--text); background: #fff; -webkit-font-smoothing: antialiased; }\n .article-wrap { max-width: 780px; margin: 0 auto; padding: 48px 24px 80px; }\n .article-header { border-left: 5px solid var(--navy); padding-left: 24px; margin-bottom: 48px; }\n .article-header .category { font-family: var(--font-ui); font-size: 12px; font-weight: 700; letter-spacing: 2px; text-transform: uppercase; color: var(--grey); margin-bottom: 12px; }\n .article-header h1 { font-family: var(--font-ui); font-size: clamp(26px, 4vw, 38px); 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text-decoration: none; }\n .further-reading { background: var(--light); border: 1px solid var(--border); border-radius: 6px; padding: 24px 28px; margin: 48px 0 0; font-family: var(--font-ui); font-size: 15px; }\n .further-reading h4 { font-size: 12px; font-weight: 700; letter-spacing: 2px; text-transform: uppercase; color: var(--grey); margin-bottom: 12px; }\n .further-reading ul { margin: 0; padding-left: 18px; }\n .further-reading li { margin-bottom: 6px; }\n .further-reading a { color: var(--navy); }\n .disclaimer { font-family: var(--font-ui); font-size: 13px; color: var(--grey); border-top: 1px solid var(--border); padding-top: 24px; margin-top: 48px; line-height: 1.6; }\n @media (max-width: 600px) { .article-wrap { padding: 28px 18px 60px; } .cta-box { padding: 28px 24px; } }\n<\/style>\n<\/head>\n<body>\n<article class=\"article-wrap\">\n\n <header class=\"article-header\">\n <p class=\"category\">FX & Currency Strategy<\/p>\n <h1>Forward Contracts Explained: How Businesses Lock In Exchange Rates and Protect Their Margins<\/h1>\n <p class=\"subtitle\">A plain-language guide to one of the most practical tools in cross-border finance \u2014 what a forward contract is, when it makes sense, and what the numbers actually look like.<\/p>\n <p class=\"meta\">By Nextpay Global \u00b7 Published July 13, 2026 \u00b7 9-minute read<\/p>\n <\/header>\n\n <p>Currency markets don’t wait for convenient moments. A contract is signed today at a fixed dollar price. Payment is due in 90 days. If the exchange rate moves 3% in that window \u2014 and it does, regularly \u2014 the margin on that contract changes with it. Not because the underlying business changed, but because of timing. Understanding the currency impact on international business, and managing it with the right tools, is one of the most direct ways to protect profitability.<\/p>\n\n <p>For businesses managing cross-border cash flows, this is a familiar problem. A <strong>forward contract<\/strong> \u2014 sometimes called a currency forward or FX forward \u2014 is one of the most direct tools available to address it: it locks in the exchange rate today for a transaction that will settle in the future, eliminating the uncertainty between now and then. According to <a href=\"https:\/\/www.cmegroup.com\/education\/articles-and-reports\/introduction-to-foreign-exchange.html\" target=\"_blank\" rel=\"noopener\">CME Group’s foreign exchange education resources<\/a>, forward contracts are among the most widely used instruments for managing currency risk in international trade.<\/p>\n\n <p>This guide explains how forward contracts work, when they make sense, and when they don’t \u2014 with worked examples in USD\/GBP and USD\/EUR. It’s aimed at finance directors, CFOs, and operations leads who manage international payments and want to understand this tool clearly before deciding whether to use it.<\/p>\n\n <nav class=\"toc\" aria-label=\"Table of contents\">\n <h2>In this guide<\/h2>\n <ol>\n <li><a href=\"#what-is-a-forward\">What a forward contract actually is<\/a><\/li>\n <li><a href=\"#how-rate-set\">How the forward rate is set<\/a><\/li>\n <li><a href=\"#worked-examples\">Worked examples: USD\/GBP and USD\/EUR<\/a><\/li>\n <li><a href=\"#when-to-use\">When to use a forward contract<\/a><\/li>\n <li><a href=\"#when-not\">When not to use one<\/a><\/li>\n <li><a href=\"#types\">Variations: fixed, flexible, and window forwards<\/a><\/li>\n <li><a href=\"#vs-spot\">Forward contracts vs spot transactions<\/a><\/li>\n <li><a href=\"#getting-started\">How to get started<\/a><\/li>\n <\/ol>\n <\/nav>\n\n\n <h2 id=\"what-is-a-forward\">1. What a forward contract actually is<\/h2>\n\n <p>A forward contract is an agreement between a business and a currency provider to exchange a specified amount of one currency for another, at a fixed rate, on a future date. Once agreed, the rate is locked in \u2014 it doesn’t change regardless of what the market does before settlement.<\/p>\n\n <p>The key elements are:<\/p>\n <ul>\n <li><strong>The currencies involved<\/strong> \u2014 for example, USD to GBP<\/li>\n <li><strong>The amount<\/strong> \u2014 for example, $250,000<\/li>\n <li><strong>The forward rate<\/strong> \u2014 the agreed exchange rate, fixed today<\/li>\n <li><strong>The settlement date<\/strong> \u2014 when the exchange actually happens, typically anywhere from a few days to 12 months ahead<\/li>\n <\/ul>\n\n <p>A forward contract is not a prediction about where the exchange rate will go. It is a decision to remove currency uncertainty from a specific future transaction. Whether the market subsequently moves in your favor or against you, the rate you contracted is the rate you get.<\/p>\n\n <div class=\"callout\">\n <strong>Key point<\/strong>\n A forward contract doesn’t eliminate FX cost \u2014 it eliminates FX uncertainty. You may end up with a rate that looks less favorable than spot on the settlement date, or more favorable. What you gain is certainty, which has genuine commercial value when you need to price contracts, plan cash flows, or protect a specific margin.\n <\/div>\n\n\n <h2 id=\"how-rate-set\">2. How the forward rate is set<\/h2>\n\n <p>The forward rate is not simply today’s spot rate with a margin added. It is calculated using the interest rate differential between the two currencies \u2014 a concept called covered interest rate parity.<\/p>\n\n <p>In plain terms: if interest rates in the UK are lower than in the US, sterling will trade at a slight forward premium to dollars over time. If US rates are higher, dollars will trade at a forward discount relative to sterling. The forward rate reflects this expected relationship.<\/p>\n\n <p>In practice, for most businesses, the mechanics of the calculation matter less than the principle: the forward rate you’re quoted is a fair market rate, not an arbitrary number. The provider’s margin comes from the bid-offer spread, not from distorting the forward rate itself.<\/p>\n\n <p>The further out the settlement date, the more the interest rate differential compounds and the wider the spread between spot and forward rates. A 30-day forward will have a very small adjustment; a 12-month forward will have a larger one.<\/p>\n\n <div class=\"tip\">\n When comparing forward quotes from different providers, compare the all-in rate for your specific amount and date. Spreads on forward contracts vary significantly between retail banks and specialist providers \u2014 a difference of 0.5% on a $500,000 contract is $2,500.\n <\/div>\n\n\n <h2 id=\"worked-examples\">3. Worked examples: USD\/GBP and USD\/EUR<\/h2>\n\n <h3>Example 1 \u2014 UK company receiving US dollar revenue<\/h3>\n\n <p>A UK-based professional services firm has completed a project for a US client and will receive $400,000 in 90 days. The firm’s costs are in sterling. The current GBP\/USD spot rate is 1.2800 (meaning \u00a31 buys $1.28, or $1 buys \u00a30.781).<\/p>\n\n <p>The firm has two options:<\/p>\n\n <div class=\"example-box\">\n <div class=\"ex-title\">Option A \u2014 Wait and convert at spot in 90 days<\/div>\n <div class=\"ex-line\"><span>Dollars to convert<\/span><span>$400,000<\/span><\/div>\n <div class=\"ex-line\"><span>Spot rate at settlement (assumed \u2014 could be better or worse)<\/span><span>GBP\/USD 1.3100<\/span><\/div>\n <div class=\"ex-line\"><span>Sterling received<\/span><span>\u00a3305,344<\/span><\/div>\n <\/div>\n\n <div class=\"example-box\">\n <div class=\"ex-title\">Option B \u2014 Lock in a forward contract today<\/div>\n <div class=\"ex-line\"><span>Dollars to convert<\/span><span>$400,000<\/span><\/div>\n <div class=\"ex-line\"><span>Forward rate locked today (90-day)<\/span><span>GBP\/USD 1.2840<\/span><\/div>\n <div class=\"ex-line\"><span>Sterling received \u2014 guaranteed<\/span><span class=\"highlight\">\u00a3311,526<\/span><\/div>\n <div class=\"ex-line\"><span>Difference vs waiting<\/span><span class=\"saving\">+\u00a36,182 secured vs Option A<\/span><\/div>\n <\/div>\n\n <p>In this example, sterling weakened over the 90 days (the pound bought more dollars by settlement), meaning the forward contract was more favorable. Had sterling strengthened, spot would have produced a better result. The point is not that forward contracts always win \u2014 it’s that they deliver certainty.<\/p>\n\n <h3>Example 2 \u2014 Florida importer paying a European supplier<\/h3>\n\n <p>A Central Florida manufacturer sources components from a German supplier and has a \u20ac180,000 payment due in 60 days. The current EUR\/USD spot rate is 1.0850.<\/p>\n\n <div class=\"example-box\">\n <div class=\"ex-title\">Scenario \u2014 Forward contract vs spot exposure<\/div>\n <div class=\"ex-line\"><span>Euros needed<\/span><span>\u20ac180,000<\/span><\/div>\n <div class=\"ex-line\"><span>Forward rate locked today (60-day)<\/span><span>EUR\/USD 1.0870<\/span><\/div>\n <div class=\"ex-line\"><span>Dollar cost locked<\/span><span class=\"highlight\">$195,660<\/span><\/div>\n <div class=\"ex-line\"><span>If EUR\/USD moves to 1.1100 by settlement<\/span><span>$199,800 at spot<\/span><\/div>\n <div class=\"ex-line\"><span>Saving from hedging<\/span><span class=\"saving\">$4,140<\/span><\/div>\n <\/div>\n\n <p>For an importer with thin margins, a $4,000+ swing on a single \u20ac180,000 payment can meaningfully affect the profitability of that purchase order. Forward contracts allow you to cost the purchase accurately at the time of ordering rather than discovering the true cost at settlement.<\/p>\n\n\n <h2 id=\"when-to-use\">4. When to use a forward contract<\/h2>\n\n <p>Forward contracts are most suitable when three conditions are met:<\/p>\n\n <h3>The transaction is material relative to your margins<\/h3>\n <p>A 2% movement on a $10,000 payment is $200. A 2% movement on a $500,000 payment is $10,000. Forward contracts involve a small cost (the spread) and a commitment to settle. For small, routine transactions, the overhead isn’t justified. For larger or less frequent payments, it often is.<\/p>\n\n <h3>The timing and amount are reasonably predictable<\/h3>\n <p>Forward contracts require you to commit to a specific amount on a specific date. They work well for supplier payments with known due dates, overseas payroll runs, contract receipts with agreed settlement terms, or dividend repatriation from foreign subsidiaries. They work less well for cash flows that are highly variable in amount or timing.<\/p>\n\n <h3>Your business needs budget certainty<\/h3>\n <p>If you’ve quoted a client in a foreign currency, are pricing a long-duration contract, or need to produce accurate profit forecasts that include international revenues or costs, a forward contract converts an unknown variable into a fixed number. This is particularly valuable in sectors with tight margins \u2014 manufacturing, aerospace supply chain, life sciences \u2014 where a 2\u20133% currency swing can eliminate the profit on a transaction entirely.<\/p>\n\n <div class=\"callout\">\n <strong>Sector example<\/strong>\n For <a href=\"https:\/\/www.nextpayglobal.com\/blog\/life-sciences-florida-fx-guide\/\">life sciences and MedTech companies<\/a> managing clinical trial disbursements, research partnerships, and supplier payments across multiple currencies simultaneously, forward contracts on the largest and most predictable flows provide a foundation for accurate financial reporting \u2014 regardless of what currency markets do between budget cycle and payment date.\n <\/div>\n\n\n <h2 id=\"when-not\">5. When not to use a forward contract<\/h2>\n\n <p>Forward contracts are not always the right tool, and using them inappropriately can create more complexity than they resolve.<\/p>\n\n <h3>When the timing is too uncertain<\/h3>\n <p>A forward contract commits you to settling on a specific date. If a payment is delayed \u2014 a contract slips, a client pays late, a shipment is held \u2014 you’re still contractually obligated to settle the forward. Depending on the terms, this may mean closing the forward at market rate or rolling it to a new date, both of which carry cost. If your cash flows are genuinely unpredictable in timing, spot conversion or more flexible instruments may be more appropriate.<\/p>\n\n <h3>When the amounts are too variable<\/h3>\n <p>If you need to convert USD revenues into sterling each month but the amount varies significantly, fixing a specific dollar amount via a forward can result in either under- or over-hedging. A combination of partial forwards and spot conversion \u2014 or a flexible forward structure \u2014 is more appropriate.<\/p>\n\n <h3>When you’re speculating rather than hedging<\/h3>\n <p>A forward contract is a hedging tool, not a trading tool. Using it because you expect the market to move in a particular direction is speculation \u2014 and most businesses are not set up to manage that risk. The forward contract is a sound choice when you’re protecting a known commercial exposure. It’s a less sound choice when it’s driven by a market view.<\/p>\n\n <div class=\"caution\">\n Forward contracts are binding commitments. Before entering into one, understand exactly when the settlement date falls, what happens if you need to adjust the amount or date, and what the break cost would be if the underlying transaction doesn’t materialise. A reputable provider will explain all of this clearly before you commit.\n <\/div>\n\n\n <h2 id=\"types\">6. Variations: fixed, flexible, and window forwards<\/h2>\n\n <p>The basic forward contract has several variants that offer more flexibility while retaining the core benefit of a locked rate.<\/p>\n\n <div class=\"table-wrap\">\n <table>\n <thead>\n <tr>\n <th>Type<\/th>\n <th>How it works<\/th>\n <th>Best for<\/th>\n <\/tr>\n <\/thead>\n <tbody>\n <tr>\n <td><strong>Fixed forward<\/strong><\/td>\n <td>Full amount settles on one specific date<\/td>\n <td>Single, known payment with a fixed due date<\/td>\n <\/tr>\n <tr>\n <td><strong>Flexible (open) forward<\/strong><\/td>\n <td>Rate locked today; settlement can happen on any date within an agreed window<\/td>\n <td>Payments where timing may shift slightly \u2014 e.g. supplier invoices with variable settlement<\/td>\n <\/tr>\n <tr>\n <td><strong>Window forward<\/strong><\/td>\n <td>Amount can be drawn down in partial amounts over a set period<\/td>\n <td>Regular overseas payroll; monthly supplier payments of varying amounts<\/td>\n <\/tr>\n <tr>\n <td><strong>Non-deliverable forward (NDF)<\/strong><\/td>\n <td>Cash-settled; used for currencies where physical delivery is restricted<\/td>\n <td>Exposure to emerging market currencies with limited liquidity<\/td>\n <\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n\n <p>For most businesses with straightforward cross-border payment needs, fixed and flexible forwards cover the majority of use cases. Window forwards become relevant once a business has enough recurring foreign-currency payments to benefit from a more structured approach.<\/p>\n\n\n <h2 id=\"vs-spot\">7. Forward contracts vs spot transactions<\/h2>\n\n <p>A spot transaction converts currency at today’s market rate for near-immediate settlement \u2014 typically within two business days. It’s the default for most international payments that don’t require forward planning.<\/p>\n\n <p>The choice between spot and forward is not either\/or. Most businesses use both:<\/p>\n\n <ul>\n <li><strong>Spot<\/strong> for immediate, non-recurring, or unpredictable payments where locking in a rate isn’t practical<\/li>\n <li><strong>Forward<\/strong> for known future payments where budget certainty is valuable and the amount and timing can be committed to in advance<\/li>\n <\/ul>\n\n <p>As part of a broader <a href=\"https:\/\/www.nextpayglobal.com\/blog\/fx-strategy-international-business\/\">FX strategy for international business<\/a>, the decision about which instrument to use for each payment type is one of the foundational questions. A clear policy \u2014 even an informal one \u2014 prevents ad hoc decisions that accumulate into meaningful currency losses over a financial year.<\/p>\n\n <p>A <a href=\"https:\/\/www.nextpayglobal.com\/blog\/multi-currency-accounts\/\">multi-currency account<\/a> sits alongside both: by holding foreign currency balances and netting flows within the same currency, you can reduce the number of conversions required entirely \u2014 and therefore reduce the decisions you need to make about spot versus forward for routine flows.<\/p>\n\n\n <h2 id=\"getting-started\">8. How to get started<\/h2>\n\n <p>For a business that hasn’t used forward contracts before, the starting point is understanding your current currency exposure \u2014 which currencies you receive and pay in, in what approximate amounts, and on what timescales. This doesn’t require a formal treasury function; a simple map of foreign-currency inflows and outflows by quarter is enough to identify where a forward contract would add value.<\/p>\n\n <p>The next step is working with a specialist provider \u2014 not a retail bank \u2014 to understand the forward rates available for your specific exposures and the mechanics of how settlement would work. A well-run initial conversation should leave you with a clear picture of the all-in cost, the settlement process, and the flexibility options available to you.<\/p>\n\n <p>For businesses accessing the US market for the first time, forward contracts often become relevant earlier than expected \u2014 particularly for companies that have fixed-price contracts in USD but home-currency costs, or for companies that are capitalising a US entity from overseas and want to lock in the dollar cost of that transfer.<\/p>\n\n <div class=\"tip\">\n The best time to consider a forward contract is before you’ve committed to a price. Once you’ve quoted a client or agreed a contract in a foreign currency, the exposure already exists. A forward contract at that point converts an open risk into a known cost \u2014 which is exactly what it’s designed to do.\n <\/div>\n\n\n <div class=\"cta-box\">\n <h3>Find out if a forward contract is right for your business<\/h3>\n <p>Nextpay Global offers a free FX Review for internationally active businesses \u2014 benchmarking your current arrangements and identifying where forward contracts, multi-currency accounts, or other tools could reduce cost and increase certainty.<\/p>\n <a class=\"cta-btn\" href=\"https:\/\/nextpayglobal.com\/consultation\/?utm_source=blog&utm_medium=organic&utm_campaign=forward-contracts\">Book a Free FX Review<\/a>\n <\/div>\n\n\n <h2>Final thoughts<\/h2>\n\n <p>A forward contract is not complicated. It is a straightforward agreement: you fix the rate today for a transaction you know is coming. The value it provides is certainty \u2014 over a margin, a budget line, a cost of goods. For businesses where currency movements can meaningfully affect profitability, that certainty is worth something concrete.<\/p>\n\n <p>The businesses that use forward contracts well are not those with the most sophisticated treasury teams. They are those that have taken the time to map their currency exposures, identified the flows where predictability matters most, and put a simple process in place to manage them. The tool itself is straightforward. The discipline of using it consistently is what makes the difference.<\/p>\n\n\n <div class=\"further-reading\">\n <h4>Further reading<\/h4>\n <ul>\n <li><a href=\"https:\/\/www.nextpayglobal.com\/blog\/fx-strategy-international-business\/\">FX Strategy: 5 Hidden Costs Every Global Business Faces<\/a><\/li>\n <li><a href=\"https:\/\/www.nextpayglobal.com\/blog\/multi-currency-accounts\/\">Multi-Currency Accounts: How International Businesses Stop Losing Money in Transit<\/a><\/li>\n <li><a href=\"https:\/\/www.nextpayglobal.com\/blog\/cross-border-payments-us-market-entry\/\">Cross-Border Payments: 5 Essential Steps for Smarter US Market Entry<\/a><\/li>\n <li><a href=\"https:\/\/www.nextpayglobal.com\/blog\/\">More from the Nextpay Global blog<\/a><\/li>\n <\/ul>\n <\/div>\n\n\n <p class=\"disclaimer\">\n <strong>Disclaimer:<\/strong> This article is for general informational purposes only and does not constitute financial, investment, or professional advice. Forward contracts involve binding commitments and financial risk. Always consult a qualified financial professional before making decisions about currency hedging or risk management strategies.\n <\/p>\n\n<\/article>\n<\/body>\n<\/html>\n","protected":false},"excerpt":{"rendered":"<p>Forward Contracts: Lock In Your Exchange Rate FX & Currency Strategy Forward Contracts Explained: How Businesses Lock In Exchange Rates […]<\/p>\n","protected":false},"author":1,"featured_media":218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[6,7],"tags":[21,17],"class_list":["post-213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fx-risk-management","category-us-market-entry","tag-forward-contracts","tag-fx-strategy"],"_links":{"self":[{"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/posts\/213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/comments?post=213"}],"version-history":[{"count":2,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/posts\/213\/revisions"}],"predecessor-version":[{"id":239,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/posts\/213\/revisions\/239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/media\/218"}],"wp:attachment":[{"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/media?parent=213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/categories?post=213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextpayglobal.com\/blog\/wp-json\/wp\/v2\/tags?post=213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

{"id":213,"date":"2026-07-13T11:30:00","date_gmt":"2026-07-13T11:30:00","guid":{"rendered":"https:\/\/www.nextpayglobal.com\/blog\/?p=213"},"modified":"2026-08-17T18:05:54","modified_gmt":"2026-08-17T18:05:54","slug":"blog-forward-contracts-exchange-rate","status":"publish","type":"post","link":"https:\/\/www.nextpayglobal.com\/blog\/blog-forward-contracts-exchange-rate\/","title":{"rendered":"Forward Contracts Explained: How Businesses Lock In Exchange Rates and Protect Their Margins"},"content":{"rendered":"\n