The Currency Exchange Fund (TCX) was founded in 2007 by a group of development finance institutions (DFIs), specialised microfinance investment vehicles (MIVs) and donors to offer solutions to manage currncy risk in developing and frontier markets. 

These solutions consist of financial instruments - swaps & forward contracts - that enable TCX's investors and clients to provide their borrowers with financing in their own currency, while shifting the currency risk to TCX. They are therefore protected from any currency volatility. 

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Type of organisation

  • Development Organisation
  • Finance Institution

Rural electrification expertise

  • Finance & Investment

Off-grid system used

RE-technology used

Based in



Per Van Swaay
SVP Structuring