The Currency Exchange Fund (TCX) is an international financial institution with a mission to protect borrowers in developing countries from the risks associated with foreign exchange rate volatility. Founded in 2007 by a group of Development Finance Institutions (DFIs), TCX acts as a market-maker for currencies and maturities that are not typically served by commercial markets. By offering hedging instruments like currency swaps, TCX enables institutions to lend in local currencies, thereby shielding entrepreneurs, housing finance clients, and infrastructure projects from potentially devastating currency fluctuations.

Founded in

Netherlands