Why Use a Currency Partner?
Whether you are an importer / exporter or are embarking on import / export activities for the 1st time?
At Complete Currency we offer the best exchange rates, there are no commission and no transfer fees. Our products enable you to mitigate foreign exchange risk at the same time as saving you money. Our experienced dealers can help you to get the most from trading internationally.
When embarking on import or export activities it is essential to consider how currency exchange rate fluctuations may have an effect on your business. A small change in the exchange rate could mean a major profit or equally a major loss. Fluctuations in exchange rates can work both in your favour and against you. It is important to plan ahead in order to protect yourself from this risk and to avoid the gamble.
For many import and export companies, foreign exchange volatility is one of the main complications involved in operating at an international level. The more volatile a currency, then the more risk your business is exposed to.
A primary issue to consider is how you will make and receive payments in foreign currencies, because a price that is agreed one day may be significantly higher the next, meaning it is essential to limit your transactional exposure.
When importing goods from abroad to be sold on in sterling it is important to factor the exchange rate into the final selling price.
When exporting a major decision will be whether to price your goods in the local currency or in sterling. Many factors have to be taken into account. Trading abroad in sterling can have a negative effect on your business because you are passing the foreign exchange risk to your clients. If sterling strengthens your goods become more expensive thus making your prices less competitive and your clients may look for a more competitive supplier who will deal in their own currency.
Emerging markets such as Eastern Europe can pose another problem. Due to their developing economies restrictions are imposed to protect their own currencies. Dealing in these currencies proves difficult and it is advisable to use a major currency such as the US dollar.
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