How to Protect Your Business from Exchange Rate Volatility

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?

Foreign exchange rates

Although impossible to predict movements in this market, there are a few steps that you can take to protect your company.

Planning

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.

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