Interest rate and currencies
FRW: Differential Between WMR FX Benchmarks USD/BRL Spot Rate and Mini U.S. Dollar Futures
Institutions that carry out transactions with exposure to the USD/BRL exchange rate – disclosed by WM Reuters/Refinitiv at 4:00 PM GMT – can now use the FRW rate as a benchmark to execute trades.
The FRW rate is very similar to the U.S. Dollar Forward Points (FRP). However, while the latter trades at a PTAX rate differential, the FRW will trade at a WMR rate differential.