Foreign Exchange

During 2014 I our FNB relationship manager advised us to open a call account, so that we could buy forward cover. Based on the advice, we opened a call account and deposited R200,000. We also had an overdraft facility. Since opening the call account, we made several attempts to buy forward cover, but was always advised that the timing may not be right, with an added \We cannot really tell you what to do". <br> <br> +/-Two months ago I explained to Mrs Jyoti Parshotam ( Relationship Analyst | Commercial Credit Gauteng North) that we had no benefit from having this call account. It was only cost us money. We were paying high interest on our overdraft facility"