Most industries seem reluctant to fully embrace cryptocurrencies until they get some real momentum behind them but it?s only through being more widely accepted that this momentum will be generated.
It?s one of the biggest variables in business today, so a roundtable conversation on managing currency risk generated some interesting conversation.
For the many British businesses that currently trade within the EU, a vote to leave the European Union could have a devastating impact due to the currency exposure it would entail.
2014 was a dramatic year for UK businesses dealing with foreign currencies. The pound saw a stark rise and fall against the dollar, and the euro steadily weakened due to the threat of deflation and lack of growth in the eurozone.
Kevin Grant, managing director of corporate international payments at Moneycorp, discusses how the pound’s exchange rate can impact importing and exporting businesses.
Kevin Grant, managing director of corporate international payments at Moneycorp advises SMEs on how to protect business revenues from currency fluctuations.
If you’ve got a business with interests overseas — you’re importing or exporting regularly, or have an office abroad meaning you have to pay staff in the local currency — it’s essential to hedge against currency fluctuations. Failure to do so, says Christina Weisz, can really hit your profit margins, or worse.