Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Market   ✗     Offshore Market   ✗     Onshore Volume (MM USD Daily) 500 - 750 250 - 500 N/A Limited liquidity, quotes available on RFQ basis 50-100 25 Limited liquidity, quotes available on RFQ basis Offshore Limited liquidity, Limited liquidity, Volume (MM 500 - 750 250 - 500 N/A quotes available 50-100 25 quotes available USD Daily) on RFQ basis on RFQ basis Onshore Max Tenor (Or Typical Tenor T+2 5 years N/A 2 years 10 years 5 years 10 years For Spot) Offshore Max 5years, 5years Tenor (Or Typical Tenor T + 2 5 years N/A 2 years 10 years maturity for swaption 10 years For Spot) underlying swap Onshore Typical Limited liquidity, Limited liquidity, Deal Size (MM 25 - 75 25 - 75 N/A quotes available 10 - 25 25 quotes available USD) on RFQ basis on RFQ basis Offshore Typical Limited liquidity, Limited liquidity, Deal Size (MM 25 - 75 25 - 75 N/A quotes available 10 - 25 5years quotes available USD) on RFQ basis on RFQ basis Onshore CitiFX Pulse  ✗ ✗ ✗ ✗ ✗ ✗ Capabilities Offshore CitiFX Pulse Capabilities   ✗ ✗ ✗ ✗ ✗ Source: Citi indicative information Market opening hours and liquidity during the day Fixing No fixing for SAR. Regulation Offshore Restrictions: Onshore entity (e.g resident corporate )is permitted to transact FX with offshore entity ( e.g offshore bank). Non-Resident Restrictions: Non-residents (e.g non-resident corporate) is permitted to transact FX with an onshore entity ( e.g onshore bank). License Requirements None. Requirements to open a foreign currency account Foreign currency accounts can be easily opened. Deal Management Rollover: Permitted. Unwinding: Permitted. Early Maturity: Permitted. Documentation Requirements No underlying documents are required – only settlement instructions. Trade Flows No local law documentation requirements. Capital Flow and FDI No local law documentation requirements. Citibank NA, UAE PO Box 749 Dubai, UAE FX Sales Contact: +971 4604 0111 / +971 45099733