Common use of Foreign Currency Transactions Clause in Contracts

Foreign Currency Transactions. Unless otherwise agreed to in writing between you and us, when we effect your Instructions in relation to any Investment and/or any Transaction denominated in a foreign currency (whether on any Exchange or otherwise), we shall be entitled, without prior notice to or consent from you, to convert the monies in your Account into and from such foreign currency (notwithstanding that such foreign currency may not be freely convertible and/or transferable) at a rate of exchange to be determined by us, in our absolute discretion, based on the then prevailing market rates, and you shall indemnify us for all Losses arising from or in connection from such currency conversion.