Exchange rates can be incredibly volatile which is problematic for businesses because this could have a serious impact on your bottom line. So, what can you do to protect your business from exchange rate changes?
Although impossible to predict movements in this market, there are a few steps that you can take to protect your company.
Like many areas of business, planning is crucial to success in this area. Analyse past trends and set a budget each year which accounts for the number and timing of transactions with a realistic assumption of current and future rates – speak to foreign exchange specialists for advice on this.…Continue reading