Do I need to wait until my Forward Contract matures to use the currency?

You have the option of early delivery at any point during the contract’s lifetime. When your Forward Contract matures you will need to settle the remaining amount. If you choose to deliver earlier than your agreed maturity date, the exchange rate may differ to your original contract. For more information on Forward Contracts visit this page or contact an OFXpert. 

Please note: If you book a Forward Contract, it may mean losing out if the market rate improves because you’re contracted to settle at the agreed rate. Read more.