Foreign exchange conversions can be conducted at any time during the day, as needed. However, it is important to note that during periods of low or no liquidity in the foreign exchange (FX) markets, such as weekends, the bid/ask spreads may be wider compared to market hours.
What is a spot date?
In the realm of Foreign Exchange, the Spot Date is commonly understood as the date on which a transaction is settled, and it typically occurs two business days from the present.
For most currency pairs, the spot date is determined by adding two available business days to the current day. However, it is important to note that there are a few exceptions, such as USD and CAD, which have a spot date of one available business day after the current day.
Can I settle my conversion on an earlier or later date than I originally booked?
Unfortunately, it is necessary for you to settle any conversion that you have booked with Airwallex on the specified date that you provided when making the booking.
Why can I not settle my conversions on some dates?
It is possible to initiate the settlement of the sell currency using the funds available in your Airwallex wallet at any given time.
It is important to note that Central Banks typically do not operate their clearing systems on weekends or local public holidays. As a result, the transfer of funds may be temporarily halted during these periods when attempting to fund the selling currency from an external source.
You can also see our guide on how you can create a conversion within your Airwallex account.